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Compaq Sells AltaVista
Beleaguered computer maker Compaq Computers agreed last week to sell off a majority stake of its search engine AltaVista to Internet venture company CMGi. According to the terms of the agreement, Andover, Mass.-based CMGi will acquire an 83 percent stake in Palo Alto, Calif.-based AltaVista, with Houston-based Compaq retaining the remaining 17 percent and a board seat. The stock exchange is valued at $2.3 billion.
SIG Wins AT&T Biz
AT&T will soon consolidate all creative and media assignments for its interactive account with the Strategic Interactive Group, a unit of Boston-based direct marketing giant and fellow AT&T roster shop Bronnercom.
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