Freeserve pays £60m for community web firm

- Freeserve, the UK's leading internet portal, has made its largest acquisition to date with the purchase of Intracus, the maker of community websites for fan clubs and associations.

- Freeserve, the UK's leading internet portal, has made its largest acquisition to date with the purchase of Intracus, the maker of community websites for fan clubs and associations.

Freeserve is paying £60 million for the company. It will issue £50 million worth of new shares to cover the cost, plus a further £10 million subject to Intracus' performance.

Freeserve, which joined the FTSE 100 last week and now has 1.82 million users, also announced losses of £3.5 million in the quarter ending February 5. This compares with losses of £3.6 million in the previous quarter.



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1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).