Yahoo Buys Overture for $1.63 Billion

securitas writes "Today Yahoo announced it plans to buy search technology company Overture for $1.63 Billion. The move is seen as a way to compete with rivals like Google and MSN, especally in the paid search and advertising category. This takeover occurs following this article about Google and Overture's race to secure partners for its paid search advertising. Other reoprts at CNN Money, ZDNet/CNet, AP via the Washington Post, Reuters, Bloomberg and Dow Jones via Yahoo. Press release at Overture and Yahoo."

Comments

Re:Yahoo -- Overture

[rtaylor]

Looks like it was mostly stock. See, once you're on the stock market, you have the ability to print money simply by 'creating' new stock.

The problem comes when trying to sell it, as it is only worth what the next guy will buy it for.

In reality, the deal was closer to 270 million in tangible (have it in your hands) money.

Yahoo now *owns*

[drgroove]

Altavista, as Altavista was owned by Overture.

http://www.altavista.com/about

Overture WAS GoTo.com, bought AltaVista and Fast

[securitas]

Overture used to be paid search portal GoTo.com which recently bought AltaVista for $140 million and then bought Fast Search / Alltheweb.com for $100 million. It was one of the IdeaLab properties. Interesting AP article about Overture's history and challenges over the last six years mirrored here.