Sitestar Acquisition of Internet Site Complete

Sitestar Corp., Encino, announced it has completed the previously announced acquisition of Soccersite.com, a privately held company that provides soccer information over the Internet.

Sitestar has also signed a letter of intent to acquire Greattools.com, a low-cost, online retailer of a wide variety of power tools and accessories.

The terms of the two transactions were not disclosed.

Sitestar is a diversified Internet holding company that operates, through its wholly owned Web-based subsidiaries, in emerging segments of the Internet, including e-commerce.