CNET, Inc., a San Francisco-based Internet media company, has acquired online computer auctioning service AuctionGate Interactive, Inc. for approximately 50,000 of its common shares for 100% of AuctionGate stock.
AuctionGate’s staff will join CNET as employees.
“Online auctions of computer products represent a huge market, and we have a clear opportunity at CNET to build the most active auction marketplace in the category,” said CNET chairman/CEO Halsey Minor, in a statement.. “This acquisition further expands the product purchasing options for our users.”
