Overture to buy AltaVista

By Julio Franco
Feb 19, 2003
  1. Overture Services plans to acquire search technology company AltaVista for $140 million in cash and stock, the latest sign of consolidation in the resurgent search business.

    Overture currently enhances its paid-search listings with algorithmic search results from Inktomi--listings it calls "backfill." By acquiring AltaVista, it can replace Inktomi and make algorithmic search a marquee product for sale to partners. The company said it plans to syndicate the algorithmic search service and will look to collaborate with the likes of Yahoo and others for Web search, despite Yahoo's proposed acquisition of Inktomi.

    Read more: CNet News.
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