AfterDawn: Tech news

MP3.com pulls back of its SeeUThere.com buy

Written by Petteri Pyyny (Google+) @ 17 Feb 2000 16:50

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)

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