Ask Jeeves is buying the privately owned Interactive Search Holdings (ISH) for about $343 million…ISH properties and brands include My Way, My Search, My Web Search, Excite, iWon, the advertising network MaxOnline and Focus Interactive.
Ask Jeeves will issue 9.3 million shares of common stock and options, and pay $150 million in cash for ISH, based in Irvington, New York. Additionally, Ask Jeeves may pay up to an additional $17.5 million in cash based on various factors, including ISH’s operating performance.
According to the Ask Jeeves CEO, the combination of Ask Jeeves with ISH will give the company a 7 percent share of the Web search market, up from 3.5 percent.
InternetNews: Though Ask Jeeves puts its emphasis squarely on search, the acquisition of certain Interactive Search properties, in particular the portal My Way, certainly positions it for possible growth into extra-search capabilities and even a portal-like online identity.
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