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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.

    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.