Data marketer to buy

Hoover's agrees to pay $17.1 million in stock, cash for Linthicum firm



Hoover's Inc., which collects and sells background information on companies through its Hoover's Online Web site, said yesterday that it has signed an agreement to buy, a Linthicum-based operator of a business research Web site, for $17.1 million in cash and stock.

Patrick Spain, chief executive officer of Hoover's, based in Austin, Texas, said the acquisition would enhance the company's position as a leading provider of research on businesses. claims more than 600,000 registered members. It delivers more than 12 million advertising-supported newsletters and news "alerts" each month, Hoover's said.

By integrating's features into its Online Web venture, Hoover's said it would gain approximately 50 percent more advertising space to sell.

Under the agreement, will be consolidated within Hoover's Online this fall and operate as Hoover's subsidiary.

The subsidiary will continue to be based at's offices in Linthicum, and in Reston, Va. Hoover's expects to retain all 60 employees.

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