Terra finds buyer for Lycos: “Spanish Internet service provider Terra Lycos is finalizing a deal to sell its U.S. portal business to a South Korean company for a price above its book value of $75 million, the Spain-based newspaper Expansion said Wednesday.”
Additionally, the price is said to between $95 and $115 million and will likely be an all-cash deal. Does anyone want to speculate on whom the buyer might be? If it is indeed a South Korean company, I would be willing to place a gentleman’s bet that Daum Communications is the buyer. The reason? The South Korea-based Daum is said to be looking at expanding its successful Web portal business beyond southeast Asia and into the lucrative U.S. market. Earlier this month, a news article was circulating that Daum was in talks to buy Newcastle, Wash.-based Mail.com Corporation. So, it’s quite possible they’ve been negotiating to buy Waltham, Mass.-based Lycos, Inc., a wholly owned subsidiary of Terra Networks S.A.
Stay tuned… and remember, you heard it here first.