Betting that it will float the next white-hot Internet IPO, Compaq spins off its Web directory, AltaVista, into a subsidiary company. Meanwhile, Microsoft gets in on the action by announcing that it will license Hotmail as AltaVista's email client, in exchange for an AltaVista-powered back-end search engine on its MSN portal.
Compaq spins off AltaVista
update Compaq says it will spin off its Web directory AltaVista to create a subsidiary, the AltaVista Company, which it intends to take public.
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