Terra Lycos Inks Deal

Terra Lycos acquired a stake of more than 60% in Argentina-based job-finding and human resources Web site Bumeran.com in a move to expand in the Spanish and Portuguese Internet market. The deal signed by Terra Lycos--formed by the $4.6-billion acquisition of U.S. search engine Lycos Inc. by Spain’s Terra Networks--comes as once highflying Latin American Internet companies struggle for profitability and desperately seek to stay afloat. Financial details were not disclosed. Terra Lycos, the third-largest global Internet firm, counting by its estimated 31 million daily visitors, purchased more than 60% of the site, according to Bumeran.com’s co-founder Pablo Larguia. Bumeran.com has offices in Argentina, Brazil, Chile, Mexico and Venezuela. Terra Lycos’ American depositary receipts fell $1.06 to close at $14.19 on Nasdaq.