February 1, 2000 6:20 PM PST

NBCi agrees to acquire AllBusiness.com

NBCi, the broadcasting company's Internet venture, has agreed to acquire AllBusiness.com in a stock deal valued at roughly $225 million.

AllBusiness.com is a San Francisco-based site that offers advice and services designed to help small-business owners manage their companies.

Launched in November 1999, NBCi has busily accumulated a wide range of Web-based entertainment, community, e-commerce and directory sites, but the latest acquisition marks its first foray into the business-to-business sector.

"The acquisition of AllBusiness.com is an important component of NBCi's business-to-business division," said Alan Braverman, president of the company's business-to-business unit.

In a written statement, NBCi said it plans to include AllBusiness.com to its NBCi ComFind business directory service and Snap Business Network. In addition, the company said it intends to announce its business-to-business strategy in coming weeks.

Some of San Francisco-based NBCi's other holdings are Snap, XOOM.com, NBC.com and NBC Interactive Neighborhood.

CNET, the publisher of News.com, has a stake in NBCi.

 

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