Mark Hamstra, Senior Editor
May 14, 1999
Gateway, CMGI Form Alliance for Internet Investment
Computer direct marketer Gateway, South Sioux City, SD, and Internet investment company CMGI Inc., Andover, MA, formed a strategic alliance this week. Gateway said it will invest $200 million for a minority position in CMGI, which owns majority stakes in several Web-based companies. The nature of the investment was not disclosed. Gateway said the alliance will enhance Gateway's Internet and e-commerce initiatives. In addition, Gateway will integrate some of its products and services into CMGI's network of Internet businesses. The two also will become preferred vendors for each other and will explore business opportunities with CMGI's majority-owned companies, which include Activerse, Adsmart, Engage Technologies, Icast, Planet Direct, NaviNet, NaviSite, Magnitude Network and ZineZone.