TECHNOLOGY & TELECOMMUNICATIONS
From Times Staff and Wire Reports
America Online to Buy Redgate Communications: The Vienna, Va.-based company said it plans to acquire Redgate in a move aimed at bolstering its multimedia and on-line shopping capabilities. Redgate Communications Corp., a privately held firm based in Vero Beach, Fla., specializes in interactive marketing. It recently produced a CD-ROM shopping catalogue for Apple Computer Inc. called En Passant. Redgate will receive 6.2% of America Online Inc.’s common stock for all of Redgate’s common and preferred stock and warrants. The deal is valued at about $35 million. America Online eased 50 cents to $64 a share on Nasdaq.
