Excite, Inc. today announced that it has completed the acquisition of The McKinley Group, Inc., creator of the Magellan On-Line Guide, effective August 30. With the acquisition, Excite has expanded its editorial reviews of web sites and now has a presence on 40% of the Premier Provider space on Netscape and 50% of the preferred space on America Online, significantly expanding its distribution.
The transaction was completed through the issuance of 850,000 shares of Excite common stock and the assumption of approximately $10 million of debt and will be accounted for as a pooling of interests.
Excite, Inc. is a leading Internet navigation network. The company's Internet navigation services include Excite Search, Excite Reviews, Excite City.Net, Personal Excite and Regional Edition. The company currently has strategic relationships with America Online, Inc., Tribune Media Services, CUC Investments, Inc., Apple, Inc., Netscape, Inc., and the Times-Mirror Corporation.
The McKinley Group, Inc., headquartered in Sausalito, CA, was founded in 1993 by a team of international publishers, technologists and information specialists committed to publishing the best navigational content on the Internet. McKinley's directories are published on its Internet web site and in print and CD-ROM. Magellan, the company's on-line Internet guide, previews and rates sites that assist users in conducting more targeted and useful searches. Magellan is located at http://www.mckinley.com.
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