2001 Tally Shows $40B In Internet Acquisitions.(INTERNET & TECHNOLOGY)

Byline: PETE BARLAS

The last year proved to be a lousy time for most Internet companies, but a great time for bargain hunters.

Firms and investors paid nearly $40 billion for 1,289 Internet companies in 2001, says San Francisco-based Webmergers.com.

A rocky business climate in which many Internet companies fell into bankruptcy or closed their doors spurred the acquisitions, says Webmergers President Tim Miller.

"Looking back at 2001, all you can say is "Good riddance,' " Miller said. "Clearly it was a bad year."

In that case, about a year ago Miller must have had some really choice words for 2000. Webmergers says investors paid …