Fast Buys Search Ad Solution Provider Platefood

Looks like Google is getting some company. White-label search engine provider Fast Search & Transfer has snapped up Platefood–a provider of search advertising solutions that also happens to be specialized in managing and delivering pay-per-performance advertising. Platefood as originally set up in 2005 as a joint investment by Fast, Schibsted SOK AS, and Sensis Pty to offer online search services and search-based advertising solutions to media and online directories companies. Today Fast acquired all the remaining shares in Platefood (19.99% from Schibsted and 61.01% from Sensis) for Euro 8.1 million in cash. Prior to the transaction, Fast had been the minor partner with 19% of all shares. The move is a clear bid by Fast to plug the gaps in its portfolio and make a more aggressive play in the growing market for search-based monetization solutions.

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