Bermuda based HedgeWorld, a news and data group, has bought HedgeCall. The acquisition will augment its position as provider of information for the hedge fund industry.

The purchase price has not been disclosed, but under the terms of the deal HedgeWorld will acquire the assets but not the business liabilities of HedgeCall.

Johann Wong, president of HedgeWorld, said, "HedgeCall's media capabilities significantly enhance HedgeWorld's core businesses. It also complements HedgeWorld's capital raising services for managers."

HedgeCall is based in Philadelphia and offers audio and video streaming services over the Internet. It also lets investors see and hear a hedge fund manager's pitch to clients. Over the next three months HedgeWorld plans to integrate HedgeCall's streaming services into its web site. Hunt Taylor, who hosts Hedge Radio Network on HedgeCall.com, will continue to interview industry officials.

Mr. Wong founded HedgeWorld in 1998 and the company is privately held. It is currently developing technology that would allow certain investors to buy hedge funds over the Internet. Investors can invest in hedge funds either by approaching individual managers directly or via funds that invest in several hedge funds.

The hedge fund industry caters primarily to wealthy investors who have at least $1 million to invest in this loosely regulated market. Hedge fund managers can sell stocks short and use borrowed money to let gains, or losses, add up quickly. Most hedge funds are set up by very astute individuals with a trading background, usually in a major institution, who see the potential of trading for themselves and understand the use of alternative products.