Dealing Direct
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Beyond.com Corp., an Internet-based computer software retailer, agreed to buy closely held rival Buydirect.com for about $133.7 million in stock as it seeks to expand its customer base and product line. Beyond.com said it will issue 5.4 million shares for the purchase, or $133.7 million based on Friday’s closing price of $24.75 a share. Beyond.com, based in Sunnyvale, Calif., said it expects to close the acquisition of San Francisco-based Buydirect.com in March. Shares of Beyond.com rose $1.81 to close at $26.56 on Nasdaq.
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