LONDON (Brand Republic) - News Corporation has appointed Loudcloud, the internet start-up launched by Netscape co-founder Marc Andreesen, to develop the infrastructure for its planned international online news operations.
The decision comes just weeks after News Corp shut down its internet division and integrated its websites into their related TV networks.
An official announcement is expected next week, as Loudcloud gets its investor roadshow for its planned IPO under way.
Loudcloud will be the first pure technology IPO since the end of last year, following hesitancy in the market about the hi-tech sector.
Andreesen established Loudcloud in 1999 with the aim of providing a one-stop shop for internet infrastructure.
Loudcloud aims to raise $110m (£75.6m) by selling 10m shares valued at between $10 (£6.87) and $12 (£8.24) a share. This values the company at more than $1bn (£686.8m), despite losses of $50m (£34.3m) in the first half of 2000.