September 26, 2005
News: Moreover picks a suitor . . .
Silicon Valley Watcher has learned that Moreover Technologies, the San Francisco based news aggregator, will announce within the next few days that it has been acquired by a much larger multi-national company.
The announcement is expected by the end of this month. The identity of the acquiring company is not yet known, or the purchase price.
Moreover has been in play since earlier this year and several companies have expressed an interest in the company. Moreover has a strong relationship with Microsoft and it is its primary news aggregator for its MSN service.
However, it is Moreover's enterprise business that is its main revenue generator.
Moreover was co-founded by Nick Denton, a former Financial Times journalist and head of New York based Gawker Media the publisher of several popular online web sites such as Wonkette, Gawker, Gizmodo and Fleshbot. Mr Denton remains chairman of Moreover.
September 26, 2005 02:49 AM