Compaq Invests in Online Marketing

Compaq Computer Corp. said it invested in a unit of Internet venture-fund company CMGI Inc. to gain online marketing technology. Terms weren’t disclosed. In addition, Andover, Mass.-based CMGI completed its $2.3-billion purchase of a majority stake in Compaq’s AltaVista search site. Compaq will use technology from CMGI’s Engage Technologies Inc. unit to tailor Internet content to customers and post banner ads and promotions on its Web site. Compaq gets 19 million CMGI common shares and preferred shares equal to 1.8 million common shares in exchange for CMGI’s 83% AltaVista stake. Houston-based Compaq rose 50 cents to close at $24 on the New York Stock Exchange, while CMGI fell $6.56 to close at $78.75 on Nasdaq.