Business-Information Giant D&B to Buy Austin, Texas-Based Hoover's.

Byline: Shonda Novak

Dec. 6--Business-information giant D&B Corp. said Thursday it would pay $117 million to acquire Hoover's Inc., the Austin-based online business information provider that went public during the Internet boom, only to see its share price languish in the bust that followed.

Hoover's has $36 million in cash on hand, which makes the net value of D&B's purchase $81 million. D&B, based in Short Hills, N.J., was formerly known as Dun & Bradstreet Corp.

Officials at both companies said the Hoover's name will stay as a subsidiary of D&B, as will most of the 230 employees at Hoover's headquarters in the renovated Butter Krust Bakery …