Feeds

Overture buys FAST's web search biz

Paying up to $100m

  • alert
  • submit to reddit

The Essential Guide to IT Transformation

Overture is stumping up to $100m cash for the Internet business of Fast Search & Transfer (FAST). The keyword ad Johnny is shelling out $70m cash upfront and up to $30m in performance incentives to the Norwegian search firm over three years. In turn it gets FAST WebSearch, AlltheWeb.com, and FAST PartnerSite.

FAST says it will now focus on its enterprise search business, which currently accounts for 75 per cent of turnover. The deal is expected to close by April.

In the old days it used to be called doing business at Internet speed. Overture has certainly been bloody quick in recent days, buying up first AltaVista for $140m and now FAST. But maybe it has had to be quick. In December, Yahoo! a major customer, bought Inktomi for $235m in cash. At some point, Yahoo! surely will replace both Google and Yahoo! with Inktomi technology.

At the same time, Google is looming increasingly large, even if its pay-for-placement service is right now a fraction of the turnover - we guess - of Overture's. Google's traffic will ensure that sales will pick up.

So what was Overture to do? In essence it is doing a reverse Google, and Yahoo! So it is retrofitting its own search engine technology, which many claim is superior to Google, and it has its very own portal to play with. Admittedly, AltaVista has seen better days. Much better days. But if they can revive Napster (no they can't - ed), surely Overture can return AltaVista to a little of its former glory. ®

Related stories/link

Overture press release
AltaVista flogged to Overture
Yahoo! buys! Inktomi
Freeserve junks Inktomi, goes FAST
Search firms upgrade relevance, bells, whistles

Build a business case: developing custom apps

More from The Register

next story
iPad? More like iFAD: We reveal why Apple fell into IBM's arms
But never fear fanbois, you're still lapping up iPhones, Macs
Sonos AXES support for Apple's iOS4 and 5
Want to use your iThing? You can't - it's too old
Amazon says Hachette should lower ebook prices, pay authors more
Oh yeah ... and a 30% cut for Amazon to seal the deal
Philip K Dick 'Nazi alternate reality' story to be made into TV series
Amazon Studios, Ridley Scott firm to produce The Man in the High Castle
Too many IT conferences to cover? MICROSOFT to the RESCUE!
Yet more word of cuts emerges from Redmond
Joe Average isn't worth $10 a year to Mark Zuckerberg
The Social Network deflates the PC resurgence with mobile-only usage prediction
Chips are down at Broadcom: Thousands of workers laid off
Cellphone baseband device biz shuttered
Feel free to BONK on the TUBE, says Transport for London
Plus: Almost NOBODY uses pay-by-bonk on buses - Visa
Twitch rich as Google flicks $1bn hitch switch, claims snitch
Gameplay streaming biz and search king refuse to deny fresh gobble rumors
prev story

Whitepapers

Implementing global e-invoicing with guaranteed legal certainty
Explaining the role local tax compliance plays in successful supply chain management and e-business and how leading global brands are addressing this.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Backing up Big Data
Solving backup challenges and “protect everything from everywhere,” as we move into the era of big data management and the adoption of BYOD.
Boost IT visibility and business value
How building a great service catalog relieves pressure points and demonstrates the value of IT service management.
Why and how to choose the right cloud vendor
The benefits of cloud-based storage in your processes. Eliminate onsite, disk-based backup and archiving in favor of cloud-based data protection.