Lycos Europe we are closing down - fire sale

Posted on November 26, 2008
Filed Under The WorldWideWeb |

Lycos Europe, my first internet employer back in the day has decided to cease its activities and as attempts to sell the company as a whole have failed it will now sell some parts and close others down.

Haarlem / Netherlands, November 26, 2008 – LYCOS Europe N.V. (“LYCOS”), one of the leading portal providers, online advertisers, hosting, domain and price-comparison platforms in Europe, today announces the results of its strategic review process.

Over the past months LYCOS, together with its advisors, has evaluated the different available options for the business. These options included the sale of the company as a whole, a sale of all or parts of the assets of LYCOS, restructuring and partial liquidation of the business.

As a result of this strategic review process the Management Board and the Supervisory Board of LYCOS came to the conclusion that the best available option of the company is to (i) strive for a sale of its domains, Danish portal and shopping activities and (ii) to discontinue the portal and webhosting activities.

As a result of this conclusion LYCOS intends to distribute an amount of EUR 50 million in 2008 to its shareholders.

The above mentioned steps are subject to the approval of LYCOS’ shareholder meeting, which will be held December 12th, 2008 in Amsterdam, the Netherlands. The full agenda as well as further information are available on the LYCOS corporate website.

UPDATE: The re kress.de the number of people affected ranges between 500 and 700.

Not a huge surprise, but still a sad thing to witness.

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    • Comments

    2 Responses to “Lycos Europe we are closing down - fire sale”

    1. Anonymous on December 12th, 2008 6:37 pm

      someone please step in & buy our chat & save it so we can have a place to chat

    2. United Internet aquires United Domains - from Lycos Europe : Locally Type* on December 13th, 2008 10:57 am

      [...] this weeks meeting where the proposal of the liquidation of Lycos Europe was agreed by the [...]

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