Newconomy, the struggling Dutch internet incubator, has acquired Explainer DC, the Dutch information and communication technology firm, to help the incubator extract some value from its portfolio of internet start-ups.

Newconomy floated on Euronext Amsterdam in April 2000, raising nearly €13m ($12.8m). At that time, it reported a €1m loss for 1999, but forecast a slight profit for 2000. But after the value of its stakes in around 30 internet companies plummeted, it went on to record a loss of €70m in 2000. Newconomy's share price then tumbled from its high of €26.90 and is now trading at €0.20.