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Go2Net to buy for $20 million

Internet directory Go2Net announces it will acquire, a financial information Web site, for $20 million in stock.

Internet directory Go2Net today announced it will acquire, a financial information Web site, for $20 million in stock.

The transaction will bring Go2Net a suite of free and subscription-based financial analysis and real-time charting services, which the company plans to fully integrate with its Silicon Investor site.

Shares of Go2Net were up 2.94 points at 128 in late morning trading today. The stock has hit a high of 199 and a low of 6.4 during the past 52 weeks.

"The number-one request for product improvement related to Silicon Investor has been for comprehensive financial charting and equity tracking opportunities," said Go2Net chief executive Russell C. Horowitz in a statement.

Go2Net blasted higher a few months ago after billionaire investor Paul Allen, a Microsoft cofounder, invested about $750 million in the company, hoping at some point to link the Internet directory with his expanding cable empire, Bloomberg reported recently. Allen's Vulcan Ventures owns the seventh-largest U.S. cable company.

IQC's subscription-based IQ Chart includes real-time technical charts, which continuously monitor market indices and individual company performances, updating automatically every minute throughout the trading day.