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Hong Kong company pays US$1 million for domain name

OUT-LAW News, 29/08/2000

A business consulting firm in the US has transferred the rights to cyberworks.com and cyberworks.net to Hong Kong company Pacific Century CyberWorks Limited for US$1 million.

The sale follows a decision eight months ago by San Diego based Venture Catalyst Inc. to abandon a strategy to rebrand itself as CyberWorks.

Pacific Century CyberWorks Limited recently bought Hong Kong’s largest telecoms company, Cable and Wireless, for $28.5 billion. According to Venture Capitalist Inc, the $1 million transfer is only the tenth seven figure transfer of a domain name, the biggest being business.com for $7.5 million.

 

 

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