AfterDawn: News

MP3.com is pulling out of its planned acquisition of Web event planner SeeUthere.com, citing the unavailability of pooling of interest accounting for the merger.

Instead, MP3.com will take a "major stake" in the company for an undisclosed price. SeeUthere is expecting to raise up to $30 million from current and new investors in the coming months, the company said.



The companies will work together in a "strategic relationship" as a result of this deal.

(news from cnet.com)

Written by: Petteri Pyyny @ 17 Feb 2000 16:50