| Ask Jeeves to Focus Exclusively on its Growing Web-wide Search Busines
Jeeves Solutions to Be Sold in Cash Transaction to Kanisa |
Hollywood
msg:32795 | 8:34 pm on May 28, 2003 (gmt 0) |
EMERYVILLE, Calif., May 28 -- Ask Jeeves, Inc. (Nasdaq: ASKJ) a provider of Web-wide search, has entered into a definitive agreement under which Kanisa, Inc. will acquire Jeeves Solutions, the enterprise software division of Ask Jeeves. Jeeves Solutions' advanced search technology and best-in-class analytics will enable Kanisa to offer a larger, more robust suite of customer service solutions to corporate customers worldwide. With the sale, Ask Jeeves will focus solely on its growing Web-wide search business. [irconnect.com...]
|
jeremy goodrich
msg:32796 | 9:46 pm on May 28, 2003 (gmt 0) |
They were shopping around that business unit for a bit. Interesting that they will make a run of _only_ their web search business. Good news for Google too - since Ask uses AdWords on their USA & UK properties.
|
jimbeetle
msg:32797 | 10:19 pm on May 28, 2003 (gmt 0) |
I'm always dubious about the future of a company when they sell a unit such as this. I'm probably way off base here and don't pretend to understand their underlying business but I would assume that Jeeves Solutions, in that it uses ask's existing technology, would provide a steady stream of higher margin income than the web-based business. Either they were strapped for cash or this is a pretty gutsy bet on the next couple of years. I've been becoming quite a fan over the past month or so for searches in my segment, they seem highly-focused without too mmuch fluff. Now for them to get the word out about the changes over the past few months. $3.5 million in 'cash on closing' for Solutions should finance a pretty good ad campaign.
|
|
|
