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Amazon buys 'Net units
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August 4, 1998: 10:00 a.m. ET
Online bookseller acquires PlanetAll, Junglee in deals totaling $280M
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NEW YORK (CNNfn) - Amazon.com Inc. said Tuesday it has agreed to acquire two Internet companies to strengthen its electronic-commerce offerings.
In separate deals, Amazon purchased PlanetAll, which makes a Web-based address book and calendar service, and Junglee Corp., a provider of Web-based virtual databases.
Amazon said it will acquire 100 percent of the outstanding shares and assume all outstanding options of Junglee and PlanetAll in exchange for equity. The total value of both transactions is approximately $280 million.
PlanetAll provides free, Web-based address books from its site and will operate as a wholly owned subsidiary from its Cambridge, Mass., headquarters.
Junglee's Virtual Database is designed to simplify searching for items online. The company carries more than 15 million items in the Junglee Shopping Guide and over 90,000 job listings in its Job Canopy. Junglee's customers include Yahoo! Inc. (YHOO) and Compaq Computer Corp. (CPQ).
Amazon (AMZN) shares gained 2-3/16 to 110-7/16 in early trading. 
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