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15 November 2002

Inktomi Sells Off Enterprise Search

Troubled search provider Inktomi has sold its enterprise search product to Verity for $25 million in a bid to become cash flow positive. The deal will enable Inktomi to focus exclusively on its paid inclusion product and web search technology.

In this article, David Peterschmidt, Inktomi's president and CEO said about the deal: "The sale of our enterprise search business to Verity puts Inktomi in a much stronger financial position while enabling the company to apply all its resources on a growing market in which it has leading technology, distribution and marketing services".

This is welcome news for the search industry. Let's hope the cash injection means Inktomi can reclaim their position in the market and improve on their product offering.

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