| Freeserve, the UK's
leading free service ISP, has put $15 million into
GlobalNet Financial.com (GLBN), the operator of
UK-iNvest.com and a leading
provider of MicroCap news and information on the Internet.
With
the investment Freeserve gets an option to increase its stake
in GLBN to 19.9 percent.
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Following the 13 percent stake, reported to be worth £15 million, in the Nasdaq Freeserve, Globalnet, Online, Trading [Find Related Articles] [May 14,
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"We believe a closer
relationship with Freeserve will help us expand at a much faster rate
as well as maximize our equity value over the long term," said Stanley Hollander, president and CEO of GLBN.
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"Cementing our relationship will
enable us to work with GLBN to expand their financial Web sites world wides," said Freeserve CEO John Pluthero.
GLBN has a stated strategy of building market-specific financial Web sites
in various markets around the world, working in alliance with key
industry players.
invest venture high-tech Content at ZDNet UK::
Intel Puts Millions Into Home Technology Freeserve, Globalnet, Online, Trading [Find Related Articles] [August 17, 1999, 15:45]
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Freeserve, which remains a subsidiary of electronics
retailer Dixon's Group until being floated as a separate business, has
garnered over 1.1 million accounts since its launch in September last year.
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