MarketWatch.com, Inc. and Pinnacor Inc. have announced the closing of the merger of the two companies through the formation of a new holding company that will continue to be named MarketWatch.com, Inc. and will continue to trade on the Nasdaq National Market under the symbol "MKTW." The combined company will be a provider of online business news and financial tools to organizations in numerous sectors, including banking, brokerage, and media. Stockholders of both companies approved the merger at their respective stockholder meetings on January 15, 2004.
The combined company brings MarketWatch's news, tools, and charting capabilities together with Pinnacor's extensive suite of financial applications and customization capabilities. The combined company is positioned to address a range of needs in the financial services, business information, media and wireless markets.
Effective immediately, the business activities of Pinnacor have been combined with MarketWatch's existing licensing operations to form a new unit, MarketWatch Information Services. Jeffrey G. Davis has been named Executive Vice President and General Manager of the new business line. He will be based in New York City.