Yahoo strikes deal to buy Kelkoo
29 March 2004
Yahoo has announced a planned acquisition of European shopping search engine Kelkoo.
The proposed $575 million acquisition of comparison-shopping site Kelkoo will increase the search giants shopping capabilities.
French company Kelkoo has proprietary technology enabling shoppers to find the best bargains via its own websites and windows on leading portals.
Yahoo executive chairman Terry Semel confirmed the deal and said it would "enrich" Yahoo's shopping services.
Kelkoo confirmed 10 days ago it was seeking investment bank advisers with a view to an initial public offering later this year. The company, which operates in ten European countries, was set up in 1999 by Executive Chairman Pierre Chappaz, using technology developed by France's state Institut National de Recherche en Informatique et Automatique.
Kelkoo displays listings for three million products from 2,500 merchants. The engine enables users to search for an item, compare prices and click to the merchant to make a purchase.
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