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Online Marketer Acquires Ask Jeeves
Stock Option Trading By Dave Porter
Csathy received his J.D. from the Harvard Law School, and his B.A., summa cum laude, in political science from the University of Minnesota. Scott Lomond Scott Lomond President & Chief Operating Officer technology, management consulting and financial services. Prior to joining SightSpeed, he was General Manager for the enterprise software division of Ask Jeeves in Emeryville, CA. Prior to working at Ask Jeeves, Scott held various positions with Arthur Andersen, Iomega, and Society National Bank Corporation (now KeyCorp).
Currency Day Trading Online marketing company, IAC, said Monday that it was acquiring the search engine, Ask Jeeves, in a transaction valued at $1.85 billion.
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Forex Day Trading March 21, 2005 (AXcess News) New York - Online marketing company, InterActiveCorp (Nasdaq: IACI), said Monday that it was acquiring the search engine, Ask Jeeves (Nasdaq: ASKJ), in a transaction valued at $1.85 billion.The news sent Ask Jeeves shares soaring, up $3.97, or 16.38%, at $28.21 by 1:46pm ET Monday. InterActiveCorp's shares were down 81 cents, or 3.63%, at $21.48. InterActiveCorp said it would be initiating a share buy-back program equal to 60% of the number of shares being issued in the Ask Jeeves acquisition, though the news did not stop its shares from falling.IAC's chairman, Barry Diller, was quoted as saying, "we believe that in the future Ask Jeeves has the potential to become one of the great brands on the Internet and beyond, and by beyond we mean in wireless, in the search for anything on any device."
"We are very pleased with the outcome in this matter, " said Ken McBride, CEO of Stamps.com. "Stamps.com is proud of its history of online postage innovation, including the first U.S. approved online postage solution, and our unique NetStamps™ product. This agreement represents a good return to our shareholders on our large investment in technology and our broad intellectual property portfolio."
Financial In Market Ask Jeeves averages 42 million monthly viewers and is ranked no. 4 in search engines.
Stock Trading System Much of Ask Jeeves revenue in the past came from partnerships with Google (Nasdaq: GOOG), but with IAC's own list of clients, the search engine's ad properties are most likely going to sway to IAC. That transition was not mentioned in the companies joint announcement Monday.
Day Trading Stock Tip IAC operates more than 40 specialized consumer brands in the travel, retailing, ticketing, personals, media, financial services, real estate and teleservices industries.
Financial Forex Forex Software The online marketer reaches 44 million unique viewers per month. Its acquisition of Ask Jeeves nearly doubles that exposure.
Stock Market Trading According to Merrill Lynch Equity Research, of the $260 billion in total U.S. advertising spend in 2004, less than $10 billion, or 4%, is online, with an expected annual growth rate of 13%. Search is now 36% of U.S. online advertising and expected to grow 24% per year over the next five years. If those figures are only half right, IAC bought the search engine at the right time - and price.
Day Lesson Stock Tip Trading AXcess News will be reporting on any new market trends related to this story. Members should watch their in-box for late breaking news. joining now.
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