Consolidation Time
from the merge-merge-merge dept
I guess that desperate feeling is settling in on a number of struggling dot coms. Everyone’s looking to merge with whoever else is left. Ameritrade is buying National Discount Brokers while Scient and iXL are merging. The scary thing is they show the drop in revenue of both Scient and iXL over the past year. In Q2 last year, the companies combined brought in $209.8 million. This year, Q2 brought in only $44 million. That’s approximately one-fifth of last year’s revenue. Ouch. Of course with all the layoffs (and I assume this merger will mean more layoffs), they’ll probably have about one-fifth the number of employees as well.
