ScreamingMedia set to acquire Stockpoint

ScreamingMedia, which processes and filters content, said it has inked a deal to acquire Stockpoint, a provider of online financial information. Under the deal, New York-based ScreamingMedia will acquire all outstanding shares of Stockpoint in exchange for approximately 4.1 million shares of ScreamingMedia stock, 350,000 warrants with an exercise price of $6 each, and $1.1 million in cash. ScreamingMedia says the acquisition will help strengthen the company's services by offering a one-stop shop for the financial services industry. ScreamingMedia delivers licensed content--including news, features, photos, video, stock quotes, audio and weather reports--from more than 3,000 publications. It then filters it into the Web and wireless services of its clients, including Fortune 500 corporations, portals, Web sites and wireless networks.