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Lycos Internet Search Service Signs Promising Deal with German Media Megafirm.(Originated from The Boston Globe)
Knight Ridder/Tribune Business News, May, 1997 by Bray, Hiawatha
May 13--Framingham-based Lycos Inc. has signed a deal with the giant German media firm Bertelsmann AG that could make Lycos the leading provider of Internet search services in Europe.
For an investment of $10 million, Bertelsmann will acquire 50 percent ownership of a new firm called Lycos-Bertelsmann, which will provide native-language Internet "navigation centers" in 37 European countries. Lycos will own the other 50 percent of the firm, and provide the underlying technology.
Lycos, owned by CMG Information Services Inc. in Andover, is one of the Internet's most popular search services. The so-called search engines help computer users navigate the World Wide Web by performing keyword searches. The company estimates that about 15 million...
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