Ybrant Buys Lycos For $36 Million

Ybrant Digital, announced the signing of the stock purchase agreement to acquire Lycos Inc., from Daum Communications of Korea.

Lycos consistently averages 12 – 15 million monthly unique visitors in the U.S., and is a top 25 Internet destination worldwide, reaching nearly 60 million unique visitors globally. The Lycos network of sites and services includes Lycos.com, Tripod, Angelfire, Gamesville, and HotBot.

“Brand Lycos needs no introduction, we are excited to bring in the Lycos properties into our fold,” said Suresh Reddy, Chairman and CEO, Ybrant Digital. “The quality of content and tools offered by Lycos has always attracted the best of the consumers across the world. Our goal is to combine the benefits of Ybrant’s global network with what Lycos has to offer in creating a compelling global destination for our advertising clients worldwide. Coupled with our offerings for advertisers, we do present new products to our local users worldwide.”

“Ybrant is the absolute perfect partner for us,” said Jungwook Lim, CEO, Lycos. “Combining Ybrant’s cutting edge digital solutions for both media buyers and sellers with Lyco’s innovative resources and media will bring tremendous value to both our consumers and clients.”

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“As a result of the sale of Lycos, Daum will be able to devote its energy and corporate resources to core domestic businesses including search, mobile services and map,” said William Chao, CEO, Daum Communications Corp.