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Inktomi inks software deal
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September 16, 1999: 10:30 a.m. ET
Buys WebSpective, Net tracking program publisher, for $106M in stock
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NEW YORK (CNNfn) - Internet software designer Inktomi Corp. agreed Thursday to acquire WebSpective Software, a maker of software used for Internet content distribution and tracking, for about $106 million in stock.
Shares of the Foster City, Calif.-based Inktomi (INKT) tumbled 5-9/32 to 124-1/8 in early trading.
The company said WebSpective, a private company headquartered in Needham, Mass., will give Inktomi the ability to offer Web site content management to the Web hosting marketplace, which is expected to reach $14.3 billion in 2003.
Also, the WebSpective software will provide Inktomi with key components for the enterprise marketplace, which Inktomi said it plans to enter later this year.
-- from staff and wire reports
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Inktomi
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