Excite Tables Gaming Deal

Excite@Home retains its equity investment in pogo.com while the games provider continues to serve its users but plans to acquire pogo.com have been nixed.

by Carol King of internetnews.com [January 10, 2001]

Last August, Excite@Home announced it would buy the online games provider for an undisclosed sum. At that time, the company reported it was building on consumer broadband applications in key areas, such as games and music.

Excite already had a 10 percent stake in pogo.com, and was to make it a wholly-owned independent subsidiary.

However, certain conditions in the transaction were not met, so the company chose not to proceed, Alison Bowman, Excite@Home spokeswoman, told Reuters.

Excite@Home will retain its 10 percent equity investment in pogo.com. Additionally, pogo.com will continue to provide games to the Excite users.

Calls to spokespersons at Excite and pogo.com were not returned as of press time.

In related news, Excite@Home reports it has met its fourth-quarter goals of 25 to 30 percent growth in its worldwide broadband subscriber base.

According to Mark McEachen, executive vice president and chief financial officer, the company ended the year with approximately 2,950,000 subscribers, up from 2,313,000 at the end of the third quarter.

— End    

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