Here is the Overture press release;
|Yahoo! Inc. (Nasdaq:YHOO - ), a leading global Internet company and Overture Services, Inc. (Nasdaq:OVER - ) a global leader in commercial search services on the Internet, today announced they have signed a definitive agreement under which Yahoo! will acquire Overture. Under the terms of the agreement, each outstanding common share of Overture will receive 0.6108 shares of Yahoo! common stock and $4.75 in cash, reflecting an aggregate purchase price of approximately $1.63 billion, or $1.52 billion net of Overture's March 31, 2003 cash balance, less the amounts earmarked for their two recently closed transactions. |
Wow, I really expected Yahoo to develop an internal PPC system. This is going to cost 'em, but it also gives them reach beyond Yahoo. Of course, now other Overture clients will be dealing with a more direct competitor.
I'd guess MSN will develop its own PPC system along with its search engine.
Huge news. I love it!
Just arrive in an email from overture
[edited by: Brett_Tabke at 1:57 pm (utc) on July 14, 2003]
[edit reason] sorry no email excerpts [/edit]
It's the perfect move for Yahoo, moves them into a very good position. They needed it with MSN gearing up to attack Google and Yahoo most likely #2 on the hitlist. This makes MSN's life much more difficult, that's for sure.
So Yahoo now own:
surely the monopolies and mergers people must been interested
[edited by: papamaku at 2:00 pm (utc) on July 14, 2003]
I wonder if this means Tim Mayer will have to now move to San Fran? :-)
Yahoo/Overture. This is HUGE.
This is awesome......it certainly gives Yahoo! quite an arsenal to contend with Google, and hopefully with MSN once it releases its own search engine.
WOW! Great move yahoo!
Now I wonder in Yahoo Directory listings are really going to matter any more. I think this could really leave MSN out in the cold until they develope something themselves and I have a feeling that's going to take quite a while.
Curtains for Espotting?
Espotting are now part of FindWhat (so partially protected) but are gonna take hit by losing yahoo.co.uk
That gonna force Google to release is IPO sooner than it was expected.
I'm glad to hear the news and, frankly, not surprised in the least. No one wants a (virtual) monopoly controlling search, be it paid or not, and this is a huge step away from that happening.
So basically the top SE's will be contested out of MSN, yahoo and google.
Will yahoo keep same format for Fast? Will it run them separately, so many questions
Where is yahooguy when u need him!
Big, big news - exciting stuff for all (apart from maybe espotting...).
WOW , Terrific News ...
IMO MSN missed a real good oppurtunity , by buying Overture they may have their hands on two algorithmic search companies ( alta + fast) and a top PPC provider .
This would have greatly accelerated MSN's work towards their Grand Search Ambitions
Is all we need MSN to buy out yahoo?
Then Microsoft will truly have another relative monopoly, besides google.
This is huge, I wonder when they will quit using google results on yahoo.
Blimey, I leave my computer for half an hour and look what happens!
Should be really interesting watching MSN now.
>> Curtains for Espotting? <<
I reckon they'll be picked up by someone, perhaps like AOL.
Surely all those Yahoo competing portals that use Overture are going to be looking for a way out. That could create a number of opportunities for the likes of E-Spotting.
The interesting part for me is Ink, AV and FAST all ending up with the same owner. I'd say the curtains will come down for at least one of those.
This aspect also creates problems for MSN and other portals. The number of 'proven scale' search options just shrunk. No wonder MSN is developing search for themselves.
For MSN, it's quite a big drama I suspect. Yahoo now own both ends of their search sandwich, leaving a horrible tasting filling in Looksmart. Horrendous.
My main fear is actually that Yahoo get carried away with their PPC ownership, and wreck their search experience as a result. I would hope that they would have learned the lessons of where that path leads by actually watching the dogs dinner unfold at MSN (who have been left with only a handful of cards, and pretty poor ones at that).
I wonder if an industry has ever consolidated so quickly?
Just three players left: Google - Yahoo - MSN
Just wonder why Yahoo bought Inktomi in the first place..
I think Google is going to start advertising pretty soon.
Mainly for their toolbar.
>> MSN have been left with only a handful of cards, and pretty poor ones at that
Maybe they have their eyes on the Big Boy Google , who knows whats happening behind the curtain :)
Anything is possible and there are no permanant enemies or friends in business :)
News that was very suspected by a vast majority. I think everyone knew it was coming but it was just WHEN!
Bit Divided opinion here,
It is creating competition against Google - Yes, but at the same time Inktomi, Alltheweb and Altavista all owned by Yahoo - should be the death of two of these IMHO (or of course breaking them up again?).
Makes you wonder how far things are planned in advance.
Yahoo may have been aiming to take over Inktomi followed by Overture to get both PPC and Crawlable web results but had no intention to acquire Altavista and Alltheweb.
Yes, this is big news. It will be interesting to see what Yahoo! do with all of those search engines they now own.
The big loser is obviously MSN who are now paying Yahoo!for Ink & Overture search services. I look forward to seeing MSN complete their search engine and setting up (or buying) a PPC.
It has been expected for some time, now, that Yahoo would do this. It is not a big surprise to me but rather a very cleaver stratecic moove by Yahoo. Good work, Yahoo!
However, it will sure hurt a lot to some - like eSpotting, as mentioned ;)
Holy crap! The question is, what could Yahoo now do with so much potential. IMHO, they can garner multiple top positions - ie, Yahoo powered by Inktomi + Overture and then promote Alta Vista and power it with FAST + Overture. They could use the existing AV dtaabase as a URL seeder to boost the number of pages indexed by either, or each, of their brands.
This is certainly going to be an interesting year. Google just got chopped down another notch. They need to get out of the tech arena and start throwing around some corporate muscle.
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