Online media company Lycos Inc., based in Waltham, MA, has purchased a 10% stake in commercial automotive Web site Autoweb.com Inc. as part of a four-year strategic alliance to build and jointly operate a new online automotive channel at http://www.autoweb.lycos.com.
Terms were not revealed.
The companies plan to jointly offer several targeted marketing programs to the automotive industry. They will share in advertising and e-commerce revenues, traffic and consumer information generated from these new offerings. The agreement also provides for Lycos to receive yearly payments of more than $1 million.
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