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Article: Excite and BT Announce Major UK Internet Initiative.
- Article from:
- PR Newswire
- Article date:
- November 25, 1998
CopyrightCOPYRIGHT 1998 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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REDWOOD CITY, Calif., and LONDON, Nov. 25 /PRNewswire/ -- Excite, Inc. (Nasdaq: XCIT) and London-based BT today announced that they have reached an agreement for BT to buy a 50 percent share in Excite, Inc.'s subsidiary, Excite UK. This $10 million investment in the $20 million subsidiary is the first time such a close and active relationship between a UK company and a major US Internet portal has been forged.
The agreement will further develop BT's presence in Internet advertising and transactions -- two major online revenue generators -- complementing its expertise in Internet access. It also brings the benefits of Excite's considerable Internet technology ...