17:49 PM

News: Moreover picks a suitor . . .

By Tom Foremski for SiliconValleyWatcher

Moreover_logo.jpgSilicon 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 and the purchase price are not yet known.

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 is the primary news aggregator for the 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. Mr Denton is head of New York based Gawker Media, publisher of several popular online web sites such as Wonkette, Gawker, Gizmodo and Fleshbot. Mr Denton remains chairman of Moreover.