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Yahoo! acquires Taiwan`s portal Kimo.com for US$150 million

11/9-Yahoo! Inc. announced here Thursday to acquire Taiwan`s leading Internet portal Kimo.com from Systex Corp. through a share swap deal. The Kimo brand will continue to exist following the acquisition.

Under the agreement, Yahoo! will issue 2.25 million new shares(worth about US$150 million or NT$5 billion based on Yahoo!`s closing share price of US$65 on the Nasdaq market Tuesday.) and offer an additional cash payment of US$50 million to Kimo`s shareholders if the portal is able to reach certain pre-set performance targets for 2001.

Last Update： 06/23/2005 14:06