Friday, June 11, 1999 - Page updated at 12:00 AM
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Amazon's Accept.Com Deal Cost About $101.7 Million
Seattle Times Staff: Seattle Times News Services
SEATTLE - Amazon.com, the Internet's largest retailer, said it issued 877,657 shares to buy closely held Accept.com Financial Services, which is developing ways to simplify online transactions.
The transaction is valued at about $101.7 million, based on Amazon.com's current trading price. Details of the acquisition were disclosed in an Amazon.com filing with the Securities and Exchange Commission.
Accept.com was one of three Internet companies Amazon.com bought in April to expand its selection of products and services, and attract more customers.. Amazon.com also bought Alexa Internet, a free service that helps people navigate the Web, and e-Niche, a seller of rare books and music that does business as Exchange.com.
Copyright (c) 1999 Seattle Times Company, All Rights Reserved.
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