Compaq plans to acquire a four per cent stake in a fledgling caching supplier for $20m.
The hardware manufacturer joins Novell and Sun Microsystems which also promised to each pump $20m into CMGion, a startup that is majority owned by internet venture capital company CMG.
CMGion plans to build a global network of caching and anonymous profile based services. The network is designed to deliver large quantities of data anywhere in the world and companies will be able to plug into it for a fee.
The startup will use existing technology to create the network, which will be co-located at multiple data centres around the world. An official rollout is planned for next year.
David Wetherell, CMGI chief executive and interim chief executive of CMGion, said it would cost between $200m and $300m to build the first four data centres.
He said: "Compaq's support for CMGion takes the strategic relationship between the two companies to a new level and adds momentum to the development of CMGion moving forward."
Compaq will also provide CMGion with appliances, server and storage platforms, as well as operating system components and technical support.
The agreement extends an existing alliance between CMGI and Compaq which included CMGI taking a majority stake in the AltaVista search engine. Compaq is CMGI's largest outside shareholder.
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