Continuing to pare its portfolio to a few key properties, Internet investor CMGI has sold its
controlling interest in rich media software maker Equilibrium Technologies. Financial terms were not disclosed.
The purchasing group was led by Equilibrium executives. CMGI bought essentially all Equilibrium's assets in January of 2000.
Andover, Mass.-based CMGI, now has six majority-owned operating companies, including search engine AltaVista and auction technology upstart uBid.
"We said in June that CMGI will make fewer, but more targeted strategic investments to grow our business; our goal is to ensure that we can support our most promising core assets," said George A. McMillan, CMGI's president and CEO.
A CMGI spokesman declined to elaborate on the reason Equilibrium was divested. But given McMillan's previous comments, it's likely that the small size of Equilibrium's market was the greatest motivating factor in CMGI's decision.
Last month, CMGI severed ties with online advertising technology firm Engage.
For its part, Equilibrium said the buyback would help it focus on its core business as well.
Equilibrium's flagship product, MediaRich helps retailers, manufacturers and media companies make better use of digital images. For example, apparel giant
Phillips-Van Heusen uses the software to help present merchandise on its Izod.com and GH Bass.com sites. Other customers include Microsoft, Cisco, Stanley
Works and Comstock Images.
Another offering from the San Rafael, Calif., firm is DeBabelizer Pro 5, an automated batch processor that enables content developers to acquire, edit and convert
graphics, animation and digital video on the desktop. Equilibrium was founded in 1989 and is privately held.
 Stocks End Week On An Up Note
 Agere Sues Intersil
| 
PRINT
Add to favorites