Daum Sells Lycos To Ybrant For $36 Million
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Search engine and portal operator Lycos has been sold to Indian digital marketing firm Ybrant Digital by South Korea’s Daum Communications for $36 million. That’s significantly less than the $95 million Daum paid for Lycos in 2004. The agreement calls for Ybrant to purchase all of Daum’s stock in Lycos in an all-cash deal.
Although Lycos has been around since the early days of the dot-com era, its brand has become lesser known in the west, especially as it sliced and sold off parts of its European business over the past few years.
SEE ALSO: Lycos To Take Over From Lycos Europe, In Europe
For Ybrant, which was on an acquisition binge last year, the brand, and its diminished presence outside of India, still means something. Daum said that by unloading Lycos, it will be better able to concentrate on its own search, mobile and map services. Release
Posted In: Advertising, Marketing, Money, M&A & Venture Capital, Mergers & Acquisitions, Search, Companies, Terra Lycos, Countries, Asia, Korea, India, daum communications, lycos, ybrant digital
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