|
Not found what you are looking for? Try Google search:
|
|
http://www.news-from-newspapers.com has found the following results regarding
online second mortgage
IAC to Buy Ask Jeeves for $1.85 Bln
SAN FRANCISCO (Reuters) - Internet conglomerate IAC/InterActiveCorp (IACI.O: Quote , Profile , Research ) on Monday said it would buy Web search provider Ask Jeeves Inc. (ASKJ.O: Quote , Profile , Research ) for $1.85 billion in stock in an effort to capitalize on explosive growth in the Internet advertising and search markets. The purchase will pit IAC against well capitalized Web search giants Google Inc. (GOOG.O: Quote , Profile , Research ) and Yahoo Inc. (YHOO.O: Quote , Profile , Research ) as well as new sector entrant Microsoft Corp. (MSFT.O: Quote , Profile , Research ) at a time when Internet media companies are again selling for big price tags. "Global search is the gateway to everything," said media mogul Barry Diller, chairman and chief executive of IAC. Analysts said IAC would be picking up Ask Jeeves for slightly less than what they consider the independent Web search provider to be worth. They added that the purchase could be the glue that binds IAC's myriad companies together after the spin-off of its Expedia and other travel-related businesses in the
second quarter of this year. Nevertheless, some analysts cautioned that following through on that plan would take work. "It's an aggressive move by IAC," said Susquehanna analyst Marianne Wolk. "We think they'll face many challenges." IAC said it will integrate the Ask Jeeves search box and its Web search results on all of its IAC-owned sites, which include the Home Shopping Network, event ticket site Ticketmaster,
online dating site Match.com,
online mortgage provider LendingTree, and local business information provider CitySearch. Diller said in a conference call that the acquisition would enable IAC to send traffic back and forth between its sites and Ask Jeeves. He added that IAC will forge a deal in which the Expedia companies have dedicated distribution on the Ask Jeeves properties. Based on IAC's closing stock price on Friday, the deal values Ask Jeeves at $28.24 a share, a premium of 17 percent to its Friday closing price. Ask Jeeves would be one in a stream of acquisitions for IAC, which earlier this month said it would buy catalog and
online retailer Cornerstone Brands for $720 million to expand across multiple retail outlets. Ask Jeeves, known for its cartoon butler and early strategy of encouraging Web searchers to enter queries in the form of questions, runs a Web search network that is a distant fifth to those of Google, Yahoo, Time Warner Inc.'s (TWX.N: Quote , Profile , Research ) AOL, and Microsoft's MSN. Continued ...
Source: reuters.com