Jeeves Buys Excite Europe Operator
Source: - Yahoo Business
Ask Jeeves Acquires Excite Europe Operator for Undisclosed Sum From Tiscali SpA
OAKLAND, Calif. (AP) -- Web search engine Ask Jeeves Inc., which has agreed to be acquired by Barry Diller's IAC/InterActivCorp, said Friday it purchased Excite Italia BV, the operator of Excite Europe, from Tiscali SpA.
Financial terms were not disclosed. Ask Jeeves acquired the U.S.-operated Excite.com Web portal in March 2004.
Ask Jeeves said it doesn't expect the acquisition to impact 2005 revenue or earnings per share, and does not expect the deal to affect previously issued financial guidance.
"This deal is a next step in Ask Jeeves' European expansion strategy," said Steve Berkowitz, CEO of Ask Jeeves. "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."
The acquisition of Excite Europe will give the company ownership of Excite's Internet domains throughout Europe as well as control of existing portal offerings in several major European markets including Spain, Italy, France, Britain, Germany, Austria and the Netherlands. Ask Jeeves will also have the ability to extend its search technology to Excite Europe users.
Excite has offered search and Web portal services since 1995. Excite will remain a separate brand under Ask Jeeves, with operations continuing out of Excite Europe's headquarters in Rome.