Tech Bytes: Wachovia Buys Firm Offering Data on Web

Wachovia Corp. has acquired Macro-World Research Corp., an Internet provider of financial information, news, and stock and mutual fund ratings.

The Macro-World analytical and forecasting system will be added to Wachovia's PC Access for investors on the Internet.

Macro-World, which was founded in 1983 and employs seven, will operate as a business unit of Wachovia, retaining its own offices in Winston-Salem.

In addition to providing information on more than 9,000 stocks and 4,000 mutual funds, the Macro-World system carries out research analysis and forecasting.

"Ours is an integrated system which brings together a lot of information and data into a customized data base," said Doug Graham, founder and chief executive officer.

Terms of the deal and the number of Macro-World users were not disclosed.

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