INTERNET.COM ACQUIRES WEB SITE AND E-MAIL NEWSLETTER ASSETS FROM EARTHWEB INC.
(New York, NY- December 26, 2000) - internet.com Corporation (Nasdaq: INTM, www.internet.com), the Internet Industry Portal, today announced that it has signed a definitive asset purchase agreement to acquire 14 Web sites and 18 e-mail newsletters from EarthWeb Inc. (Nasdaq: EWBX). The EarthWeb Web site, www.EarthWeb.com was included in the acquisition. All of these properties are focused on content for the Information Technology and Internet industries. The transaction is expected to close at the end of business today.
Through its network of Information Technology (IT)-related Web sites and e-mail newsletters, EarthWeb (www.earthweb.com) provides a comprehensive set of solutions to a broad range of IT and Internet professionals including all job titles from CTOs to programmers. As a result of their market positioning, the acquired Internet media properties have captured a critical mass of IT decision-makers and Internet professionals with attractive demographics who collectively command significant spending power.
internet.com also acquired 18 related e-mail newsletters and will likely launch several more associated with these new properties in the near future. The Web sites will be appropriately incorporated into several of internet.com's current channels including the Web Developer, Internet Technology and Windows Internet Technology channels. Also as part of this acquisition, 46 EarthWeb employees are being offered employment with internet.com. The majority of these employees hold sales positions, with the balance being editorial and IT professionals.
"This acquisition provides internet.com with tremendous business growth opportunities by adding high quality IT traffic, content, resources and advertising options to our network. These Web sites and e-mail newsletters have built a loyal following among IT and Internet professionals and have a rock solid reputation throughout the industry as leading resources for news and analyses," said Alan M. Meckler, Chairman and CEO of internet.com. "This acquisition will dramatically increase internet.com's reach into the critical IT industry, thus presenting our current advertisers additional options, as well as opening new promotional avenues for EarthWeb.com advertisers who had not previously advertised on our other sites. We envision tremendous operational synergies between our existing and new properties, and are very excited that this strong team is joining us. Another added advantage of this transaction is the relationship going forward with Dice.com and the people who built these fine properties. Initially, we expect to incur costs associated with integrating this business, after which we expect that this acquisition will be breakeven for internet.com on a cash earnings basis. By the fourth quarter of 2001, we anticipate that this acquisition will be accretive to internet.com on a cash earnings basis."
About EarthWeb Inc.
Interested advertisers should contact the Ad Sales department at [email protected] or (203) 662-2962. For commerce and licensing opportunities, contact David Arganbright, Vice President, Commerce and Licensing, at [email protected] or (203) 662-2858.
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