Search Engine News Blog Headline

18 June 2003

Overture Sells AltaVista Enterprise Search to FAST

FAST Search & Transfer of Norway confirmed today that it has bought AltaVista's Enterprise Search unit from Overture.

The deal was done entirely in cash for an undisclosed sum and includes accounts for over 200 customers. A spokesman for FAST said it will not be integrating AltaVista enterprise search technology into its own search systems, but will encourage AltaVista’s enterprise customers to migrate to FAST’s data search technologies.

The sale follows a bizarre chain of search engine buyouts, fast becoming typical for the unpredictable search industry.

In December, Verity Inc. bought Inktomi's enterprise search business for $25 million in cash and then Yahoo announced they would be purchasing Inktomi for $235 million. Overture bought AltaVista's web and enterprise search units in April for $106.6 million in cash and stock. The same month, Overture bought FAST's search technology, including their flagship search engine AllTheWeb.com for $70 million in cash, plus a performance-based payment of up to $30 million over three years.

All the recent activity has fuelled speculation that Yahoo is planning a buy-out of Overture, but nothing has been publicly confirmed or denied by either company.

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