Web portal and free internet access company AltaVista Co said Monday it has agreed to acquire privately-held financial web site Raging Bull. Specific terms of the transaction were not disclosed but a recent investment in Raging Bull by CNet Inc valued the company at roughly $120m.
Raging Bull runs a web site for investors that includes financial news, stock market information and online bulletin boards. The company claims over 1.7 million unique users per month who participate in thousands of discussion groups, as well as more than six million page views each trading day. It has 300,000 registered users.
The deal will be carried out in a stock-for-stock exchange of the privately-held shares of each company. The current owners of Raging Bull include AltaVista’s majority owner CMGI Inc, CNet and company employees. For AltaVista, the combination will make it the ninth-largest web network in terms of page views, surpassing Amazon.com Inc and Time Warner Inc, according to October Media Metrix data.
