Overture acquire web search unit of Fast Search & Transfer.

EuropeMedia, February, 2003

EUROPEMEDIA-(C)2003 Van Dusseldorp & Partners - http://www.vandusseldorp.com/

Pay-for-performance search engine Overture Services has announced that it has signed an agreement to acquire the web search unit of Norway-based Fast Search and Transfer, a developer of search and real-time filtering technologies, for E65m in cash, as well as a performance-based cash incentive payment of up to E28m over three years.

Overture aims to offera full suite of paid placement, paid inclusion and algorithmic Web search products and services for syndication to portals, ISPs and other search destination sites.

Algorithmic search, in which a search engine crawls the Web and returns relevant results in response to users' queries, complements Overture's core paid...

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