FAST buys AltaVista's enterprise business
COmpany won't use AltaVista brand, but will support its customers
Follow @infoworldNorwegian search specialist Fast Search & Transfer (FAST) has agreed to acquire AltaVista's enterprise search business from Overture Services.
The announcement follows the $106.6 million stock and cash takeover of AltaVista by Overture completed late April. In that same month Overture completed the acquisition of FAST's Internet search business, which it purchased for $70 million in cash.
As a result of the takeover, about 200 customers, including well-known names such as Monster Worldwide and Citigroup, will move to FAST, said John Rueter, vice president of global marketing at the Oslo-based search company. Financial details of the deal were not disclosed.
FAST won't use the AltaVista brand name, but will continue to support the AltaVista customers. But in the longer term customers will be asked to move over to FAST's search products, Rueter said. Most of the AltaVista customers use AltaVista's Web site search product, he said.
The value of the deal announced Tuesday is "insignificant compared to the $70 million transaction," said Rueter.
After selling its Internet search business to Overture, FAST is focused entirely on enterprise search. The company sells its products direct, but also has partnerships with software vendors, including Tibco and Chordiant Software, that sell the search technology with their products.
Market researcher Gartner ranks FAST as one of the "visionaries" in the enterprise search space, trailing "leaders" Verity and Autonomy as well as other vendors, according to a recent research report.
Gartner urged users to approach AltaVista with caution since the takeover by Overture because the new owner had not expressed its plans for the business.
