Look sells web hosting business for $3.8 million

TORONTO and MONTREAL – Fixed wireless company Look Communications said Friday it has sold its web hosting business to Bluegenesis.com. Besides the $3.8 million (subject to closing adjustments) the agreement also calls for a 40-month shared hosting marketing and licensing agreement with Bluegenesis whereby Look and Bluegenesis agree to jointly promote the EasyHosting brand and share in the revenue generated there from. "We are very pleased with the agreement reached with Bluegenesis and we look forward to working with them to grow the web hosting and domain businesses", said Gerald McGoey, vice-chairman and CEO, in the press release. Look's mission...