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Overture to Acquire Web Search Unit of Fast Search & Transfer -- FAST

     
1:34 pm on Feb 25, 2003 (gmt 0)

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Overture to Acquire Web Search Unit of Fast Search & Transfer -- FAST

" Businesses using paid inclusion pay a fee to have their Web pages frequently reviewed by a search engine's Web crawler for inclusion in its index, ensuring that the most dynamic content on their Web sites is incorporated. The company said it plans to further enhance the paid inclusion products currently offered by FAST and AltaVista and intends to provide its advertisers with the benefits of consolidated reporting, billing, and a single interface for campaign management for both paid placement and paid inclusion products."

press release [corporate-ir.net]

1:37 pm on Feb 25, 2003 (gmt 0)

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Overture will acquire FAST's Internet business unit for $70 million in cash, as well as performance-based cash incentive payments for up to $30 million over three years.

And they go on:

..assets including FAST Web Search™, AlltheWeb.com™, and FAST PartnerSite™ products, related intellectual property rights, as well as data centers and equipment in Sacramento (USA) and London (UK).

Nothing more than a few pennies - I'm shocked!

[fastsearch.com...]

[edited by: Rumbas at 1:41 pm (utc) on Feb. 25, 2003]

1:38 pm on Feb 25, 2003 (gmt 0)

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CBS Marketwatch got it too:
marketwatch [cbs.marketwatch.com]

Tor

1:39 pm on Feb 25, 2003 (gmt 0)

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You beat me Mike... ;)
1:39 pm on Feb 25, 2003 (gmt 0)

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Amazing stuff, full consolidation is happening!
1:40 pm on Feb 25, 2003 (gmt 0)

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For the love of Pete. So maybe they're going to plug Fast into Altavista? Wha wha what?
1:41 pm on Feb 25, 2003 (gmt 0)

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So Overture has Alta and Fast now. I hope they don't muddy fast results with incorporating av.
1:41 pm on Feb 25, 2003 (gmt 0)

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This ON TOP of Alta Vista.

My 10 pences are going to start going quickly soon.

Dixon.

1:43 pm on Feb 25, 2003 (gmt 0)

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So which core-algo-search engines are left?

google
inktomi
AV/FAST
wisenut
teoma
openfind

what is MSN going to do?

1:48 pm on Feb 25, 2003 (gmt 0)

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What is MSN gonna do? Hmm.

Worry they left it too late to go shopping?

or are they letting somebody else take the risks of filling the basket, and then they are gonna buy the whole Overture/AV/FAST basket or Yahoo!/Inktomi basket?

1:48 pm on Feb 25, 2003 (gmt 0)

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Why not have bought only the superior FAST and let Altavista die by itself?
1:49 pm on Feb 25, 2003 (gmt 0)

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>what is MSN going to do?

Cry? ;)

Big news, looks like 2003 will be the interesting year we thought it would ;)

Nick

1:49 pm on Feb 25, 2003 (gmt 0)

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Might wanna keep an eye on the stock quote [ose.no].

Futhermore in this announcement [newsweb.no] to the Oslo Stock Exchange, they say that they'll focus exclusively on the enterprise search business, which accounts for over 75% of FAST`s current
revenue.

1:49 pm on Feb 25, 2003 (gmt 0)

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Boy that is a bargain, 70 million $ + a bit, compared to what they paid for Alta..
1:49 pm on Feb 25, 2003 (gmt 0)

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Altavista have markets that both fast and Overture is week in, and the brand name is fantastic.

Tor

1:49 pm on Feb 25, 2003 (gmt 0)

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The Fast shares are already up 13% in just a few minutes...
1:50 pm on Feb 25, 2003 (gmt 0)

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?fast and overture?

i will remember this day as a black day
:-( :-( :-(

i never liked overture and i can't believe that my favourite SE is now in the hands of overture :(

1:52 pm on Feb 25, 2003 (gmt 0)

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Taking the pieces off the table - brillant move Overture.
1:53 pm on Feb 25, 2003 (gmt 0)

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Now Google has compitetion. Overture has the tools to take them on.
1:54 pm on Feb 25, 2003 (gmt 0)

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Exactly Brett - nobody else (teoma, wisenut etc) is close (yet) on the natural search side.

Somebody had a game plan.... I wonder if there's a round 3 acquisiton to come?

Guesses anyone?

1:57 pm on Feb 25, 2003 (gmt 0)

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There are only 2 players with CA$H
1:57 pm on Feb 25, 2003 (gmt 0)

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can someone tell me the link of that search engine chart with the relation of search engines and ppc?
1:59 pm on Feb 25, 2003 (gmt 0)

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Now watch Overture get bought by ms.
1:59 pm on Feb 25, 2003 (gmt 0)

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Tor

2:01 pm on Feb 25, 2003 (gmt 0)

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Now watch Overture get bought by ms.

Nothing would surprise me anymore, Brett...

2:01 pm on Feb 25, 2003 (gmt 0)

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I don't understand - Why did they buy Altavista in the first place?
2:01 pm on Feb 25, 2003 (gmt 0)

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The real question for me is will OV go for portals only, or will there be a dedicated search destination, taking it up with Google?

>>Now watch Overture get bought by ms

That would be the alternative.

2:03 pm on Feb 25, 2003 (gmt 0)

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"Now watch Overture get bought by ms."

That would be a disaster.

Just think though. every search using OV,AV and fast are now under the control of overture. That must be a large chunk of marketshare, any ideas how that compares to Google?

Very interesting developments lately.

And Google now has a competeter :)

2:04 pm on Feb 25, 2003 (gmt 0)

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Where did the BIZ DEVELOPMENT guy find a new job?
2:05 pm on Feb 25, 2003 (gmt 0)

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Anybody know Gary Flake?
Msgraph?
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