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News Burst: Terra buys WAP portal

Matthew Broersma ZDNet.co.uk

Published: 25 Jul 2000 11:45 BST

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Spain's Terra Mobile is placing its bets on WAP's successful future with the acquisition of wireless portal iobox for 230m euros (about £140m).

Iobox is one of Europe's most successful wireless portals, having acquired over one million registered users from the UK, Finland, Sweden and Germany since its launch in Helsinki last year.

Terra Mobile is a joint venture owned 51 percent by Telefonica Moviles and 49 percent by Terra Networks, which recently acquired US-based Internet portal Lycos.

See techTrader for more technology investment news, plus quotes and research.

What do you think? Tell the Mailroom. And read what others have said.

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