March 21, 2005
Reports: IAC to acquire Ask Jeeves for about $2B
Deal could be announced as early as Monday
Recommend ThisWeb search engine operator Ask Jeeves is close to agreeing to be acquired by IAC/InterActive, according to reports on the Web sites of The Wall Street Journal and The New York Times.
The two reports both say a deal could be announced as early as Monday.
The Wall Street Journal, quoting people familiar with the matter, said the acquisiton would be for $2 billion in stock while The New York Times, quoting an executive involved in the negotiations, said the value of the deal was about $1.9 billion.
IAC, led by Chairman and CEO Barry Diller, has built up a sizeable network of major Web sites over recent years through a succession of acquisitions. Its group sites include Expedia, Ticketmaster, Hotels.com, Match.com, UDate.com, and CitySearch. The company also owns a number of tele-shopping cable channels including Home Shopping Network in the U.S., Australia's TVSN, Germany's 9Live, and Japan's Shop Channel.
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