Wireless Net Venture

SoftNet Systems Inc., which provides fast Web connections over cable-TV lines, said it started a venture with CMGI Inc. and Compaq Computer Corp. to sell wireless Internet service in airports and hotels, targeting business travelers throughout the U.S. SoftNet and its partners will invest $100 million to start SoftNet Zone, which will sell online access for both wireless devices and laptops plugged into its network. SoftNet said it will pay $48 million in stock and cash to acquire closely held Laptop Lane Ltd., which sells Internet access in 12 U.S. airports. The San Francisco-based company said it is working with Cisco Systems Inc. and Nokia Corp. to sell Web service to travelers for about 50 cents a minute. SoftNet shares fell $2.31 to close at $42.19 on Nasdaq.