Dell to offer FAST search
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August 2, 1999: 12:35 p.m. ET
No. 2 PC maker takes 5-percent stake in Norwegian Internet firm
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NEW YORK (CNNfn) - Dell Computer Corp. plans to take a 5-percent stake in Norwegian Web search engine firm Fast Search & Transfer ASA, the Internet company said Monday.
Dell 's (DELL) investment, worth approximately $33 million, is part of a preliminary agreement for the cross promotion, sale and distribution of each companies' products.
The agreement comes on the heels of Dell's announcement that it will offer its dell.net Internet service for free to customers who purchase a PC priced at no less than $959.
Within 45 days, the companies expect to reach a final deal under which Dell would implement a co-branded FAST Search by Dell search engine on its Internet service.
On Monday, FAST launched its FAST Search site (www.alltheweb.com), which the company said can scan 200 million Web pages.
Dell shares edged up 1/16 to 40-15/16 in midday trade.
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