Fast Facts Section B: July 23, 2001
Autodesk, the worlds biggest provider of software for designing structures, signed a deal to acquire Buzzsaw.com, a privately held company that operates an online marketplace for the building industry. Autodesk formerly held a 40 percent interest in Buzzsaw, and now picks up the remaining 60 percent for about $15 million. Autodesk assumes all of Buzzsaws outstanding liabilities.
It seems even an Internet business incubator doesnt want to be associated with the Internet anymore. Garage.com, a business incubator started by Guy Kawasaki, former chief evangelist of Apple Computer, changed its name to Garage Technology Ventures. The company says that the name change better reflects its focus as a venture capital investment bank.
Northwest Flies With WebMethods
WebMethods has been awarded a contract to supply Northwest Airlines with software to integrate its internal purchasing systems with new e-commerce systems. The integration project will allow the air carrier to exchange product and purchasing information with trading partners over the Internet in real-time. Terms of the deal were not released.
Price Check Please
Dutch supermarket group Royal Ahold has launched a tender offer to acquire the remaining 42 percent interest in Internet grocery firm Peapod that it doesnt already own. Ahold offered $2.15 per share, a 72 percent premium on Peapods share price before the bid. The deal is valued at roughly $35 million.