InsiderStreet.com to Form eBiz Subsidiary

InsiderStreet.com, Tampa, FL, yesterday signed a letter of intent to acquire HardwareStreet.com, AMS System Inc. and ClubComputer.com for $40 million in common stock.

The Internet marketing company plans to combine the three companies into a subsidiary, called e-Biz Street, which will sell computer equipment and services targeting government, small and medium-size businesses, affinity marketing and education groups.

The acquired companies had combined revenues of $40 million in 1999.

Expected completion date of the sale was not disclosed.

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