Search engine company Excite is selling 2.3 million shares to the public in its first offering since its initial offering of 2 million shares last April.
The decision to sell the shares is seen by many in the industry as an attempt by Excite to position itself as a potential acquisition candidate.
Speculation about America Online as an interested party has been aired in several US journals, confirming AOL as the most likely buyer. Last year, Excite and AOL teamed up to provide an exclusive distribution agreement and acquired its WebCrawler search engine.
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