“Yahoo announced Monday that it plans to buy search firm Overture Services in a $1.63 billion deal, in a move squarely aimed at taking on competitors in the search engine market.”
“The deal calls for each share of Overture stock to be exchanged for 0.6108 share of Yahoo and $4.75 in cash, valuing each share of Overture at $24.63, roughly a 15 percent premium over Overture’s closing price on Friday.”
“Yahoo said the deal will allow it to expand its pay-for-performance search business and expand contextual advertising throughout its network. Overture specializes in selling advertising links that accompany search results on sites like Yahoo and MSN. It’s a market where search rival Google has been making inroads.” (from CNET)
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