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Strategies & Market Trends : Galapagos Islands

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To: Jorj X Mckie who started this subject	2/25/2003 8:49:58 AM
From: Bid Buster	Read Replies (1) of 57110

I think this burned up the last of OVER's cash.. biz.yahoo.com Overture to buy Web search unit for $70 million Tuesday February 25, 8:46 am ET PASADENA, Calif., Feb 25 (Reuters) - Overture Services Inc. (NasdaqNM:OVER - News), a Web advertising company, said on Tuesday it agreed to acquire the Web search unit of Norway-based Fast Search & Transfer for $70 million. The deal by Overture, which offers paid listing services, in which advertisers bid to place promotions at or near the top of the screen that displays Internet search results, comes just weeks after it said it would buy AltaVista, another Web search engine. The agreement with Fast Search & Transfer also includes a performance-based cash incentive payment of up to $30 million over three years, the company said in a statement. The deal is expected to close by April.

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