Short Take: CNET acquires U.Vision
CNET has acquired U.Vision in a stock swap valued at about $21.2 million based on CNET's closing price of 38.94. U.Vision owns and operates ComputerESP, a pricing and availability engine for purchasing computer products online. CNET (publisher of NEWS.COM) issued about 545,000 common shares for 100 percent of U.Vision's stock, and U.Vision?s two cofounders will become CNET employees. In addition, CNET intends to record the transaction using the pooling-of-interests accounting method.
has acquired U.Vision in a stock swap valued at about $21.2 million based on CNET's closing price of 38.94. U.Vision owns and operates ComputerESP, a pricing and availability engine for purchasing computer products online. CNET (publisher of NEWS.COM) issued about 545,000 common shares for 100 percent of U.Vision's stock, and U.Vision?s two cofounders will become CNET employees. In addition, CNET intends to record the transaction using the pooling-of-interests accounting method.