One of the pioneers of Internet news delivery, ClariNet, has been acquired by Individual Inc. as part of the latter company's ongoing effort to collect the proper ingredients for a sumptuous Internet news feed. The deal, which was suggested by ClariNet, sees the purchase of ClariNet Communications and its 40 employees for US$8 million.
ClariNet's expertise in continuous filtering and classification of breaking news fits in well with Individual's daily news briefing NewsPage product, says Michael Kolowich, Individual's chairman and CEO.
ClariNet approached Individual earlier this year, Kolowich says, with the idea of combining the two companies. "I feel like we've worked out a great deal. They will be a great addition to us," he says.
Last week Individual bought CompanyLink, a business reference source, from Delphi Internet Services for an undisclosed amount.
"We feel our breakout strategy is to go beyond our daily briefing tool," Kolowich says, "and with CompanyLink and now ClariNet, we feel that we've done that.
Kolowich says because ClariNet is entirely privately funded, it hasn't been able to put together the sizable sales force it would have liked to. "Now they can use our resources to do so," Kolowich says.