Yahoo Buys Formatter Online Anywhere

Yahoo Inc. said it bought closely held Online Anywhere, which formats Web pages for accessing by hand-held devices, for $80 million in stock. Yahoo, the leading Internet search service, said acquiring Online Anywhere will enable it to transmit its Internet-directory content to pagers, cellular phones and other portable devices. It did not disclose details of the purchase. Many analysts believe demand for wireless Internet connections and interactive TV will boom as consumers seek to tap the World Wide Web from wherever they might be. Shares of Santa Clara, Calif.-based Yahoo rose $4.38 to close at $142.50 on Nasdaq.