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Overture to Purchase AltaVista
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Posted by: TotalRecall
PALO ALTO, Calif. (Reuters) - Internet search company Overture Services Inc. on Tuesday said it would buy Web portal AltaVista from CMGI Inc. in a $140 million deal aimed at boosting its own "competitive advantages."
Overture, which gives advertisers a way to bid for well-placed spots among Web search results distributed to partners like Yahoo Inc. and Microsoft Corp.'s MSN, agreed to pay AltaVista with common stock currently worth $80 million plus $60 million in cash. It also said it would assume some of AltaVista's liabilities.
Source: Reuters
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