Ask Jeeves purchases Excite Europe
23 May 2005
Ask Jeeves has acquired Excite Europe from Tiscali for 6.1 million euros (£4.2 million).
Steve Berkowitz from Ask Jeeves said that the deal marked the next step in the firm's European expansion strategy. "Access to Excite's pan-European operational infrastructure and market knowledge will accelerate our European growth initiative and provide an instant revenue stream from additional users and advertisers," he added.
The transaction follows Ask Jeeves' acquisition of US portal Excite.com in March 2004 for $343 million (£187 million).
Excite Europe is a network of pan-European portal properties and the acquisition will extend Ask Jeeves' ownership of the Excite brand beyond the United States, giving the company control of existing portal offerings in several major European markets including Spain, Italy, France, UK, Germany, Austria and the Netherlands.
Excite is a well-known name on the internet, offering search and portal services since 1995. Excite will remain a separate brand under Ask Jeeves, with operations continuing out of Excite Europe's headquarters in Rome, Italy.
Ask Jeeves is on the verge of a $1.85 billion sale to Barry Diller's IAC/Interactive, owner of Expedia and Hotels.com. Ask Jeeves is the sixth largest global web property and the company delivers a range of information retrieval products through a diverse portfolio of websites, portals and downloadable applications.
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