Engage Acquires Space Asia Media In Stock Deal as Market Heats Up
Michael FlaggStaff Reporter of The Wall Street Journal
Updated Sept. 1, 2000 12:01 am ET
HONG KONG -- Engage Inc. bought one of Asia's biggest brokers of advertising space on the Internet for an undisclosed amount of stock, transforming the race for what is expected to be one of the world's biggest online advertising markets.
The purchase gives Hong Kong-based Space Asia Media Ltd. a backer with deep pockets and lucrative technology for measuring readership at Web sites. Engage is majority owned by CMGI Inc. of the U.S. The company gets a foothold in Asia, where it has little presence outside Japan.