Sexy domain name sold for US$12m

Saucy internet domain name Sex.com, long coveted as potentially one of the most lucrative sites on the web because of its name, has been sold for about US$12 million in cash and stock, a source says.

Boston-based buyer Escom said it planned to transform Sex.com into "the market-leading adult entertainment destination", which would include "adult dating opportunities".

The sale is one of the most expensive web domain name transfers ever, outpacing the US$7.5 million paid for business.com in 1999.