NEW YORK (AP) - An Indian company on Monday said it is buying Lycos Inc., once a high-flying U.S. Web portal, for $36 million from Korean Web company Daum Communications.
The buyer is Ybrant Digital, a digital marketing company based in Hyderabad.
Originally based in Waltham, Mass., Lycos was one of the top destinations on the Web around 2000, helped by its Tripod Web-hosting services. It was bought by Spanish Internet service provider Terra Networks SA in 2001, in a deal originally valued at $12.5 billion.
People were interested in these podcasts
Lycos was unable to keep up with Google, Yahoo and other competitors for the attention of Internet surfers. In 2004, when Lycos was the eighth-largest destination on the Web, Terra sold the Web portal business to Daum in 2004 for $105 million while keeping other assets.
“Our goal is to combine the benefits of Ybrant’s global network with what Lycos has to offer in creating a compelling global destination for our advertising clients worldwide,” said Suresh Reddy, chairman and CEO of Ybrant.
Please read our comment policy before commenting.