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Article: Terra Lycos Reaches New Strategic Agreement In Japan.
- Article from:
- PR Newswire
- Article date:
- December 20, 2002
CopyrightCOPYRIGHT 2002 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Terra Lycos (MC: TRR; Nasdaq: TRLY), the world's leading Internet network, today announced a strategic agreement with Rakuten and Sumitomo restructuring its interest in Lycos Japan. Terra Lycos will sell its shareholding in Lycos Japan and Rakuten will become the company's majority shareholder. Lycos Japan will continue to license the Lycos brand and certain of its products.
This transaction will strengthen Terra Lycos's operating presence in Japan through strategic partners of the significance of Sumitomo and Rakuten, the latter being the country's leading e-commerce company and one of the largest Internet portals. Rakuten will acquire a majority shareholding in ...