In what appears to be an odd pairing, United Media, which owns dial-up Internet provider NetZero, is buying florist FTD for $456 million.
In two separate pieces of news today, EnterpriseDB was selected by FTD to replace Oracle, and Liferay was selected to replace Novell's exteNd portal offering.
A security flaw on the Web site leaves private information open to harvesting just before Valentine's Day, one of the busiest times of the year for the online florist.
IOS Brands, the parent company of flower delivery service FTD, plans to bring its dot-com spinoff back in-house. Under the merger plan, FTD.com shareholders will receive 0.26 shares of IOS stock for each share of FTD.com's Class A common stock. After the merger, IOS plans to pay a dividend to former FTD.com Class A shareholders so that they will own the same number of shares in IOS that they previously owned in FTD.com. After the merger, which still has to be approved by FTD.com shareholders, IOS plans to change its name to FTD and to have its shares traded on the Nasdaq under the ticker symbol "FTDI." FTD.com's Class A shareholders own about 17 percent of the company's total shares. Under the merger agreement, they will own about 13 percent of FTD shares. FTD.com went public in September 1999. Unlike many other dot-coms, the company has been consistently profitable.
The electronic card company and FTD.com announce an agreement to promote each other's products and services.
Online florist Ftd.com and Net shopping mall Shopnow.com priced their initial public offerings today at $8 and $12 per share, respectively. Shopnow also increased the number of shares it was offering from 7 million to 7.25 million. Both will begin trading tomorrow. Ftd.com postponed its IPO last month as the market for e-commerce stocks softened.
Hewlett-Packard announced it has been selected by FTD to provide an estimated 26,000 HP Vectra corporate PCs to its 20,000 store outlets. Dell had previously provided PCs to FTD, but it will continue to be FTD's chief source for servers, FTD said.