Earlier this year, March to be exact, it was announced that never-say-die search engine Ask Jeeves was being acquired by IAC, the owner of other lucrative Internet properties like Ticketmaster and Expedia.com.
Apparently, the deal for Ask.com has been successfully completed, according to an IAC press release. The deal was conducted using stock from IAC and Ask as the primary commodity. Each share of Ask Jeeves stock was converted into 1.2668 shares of IAC common stock. To help complete the transaction, IAC issued 74.8 million shares of IAC common stock to cover the amount of Ask Jeeves' outstanding stock.
At the close of yesterday's (7-19-05) NASDAQ trading, the Ask Jeeves shares, which were traded under the symbol ASKJ, were delisted from trading. Ask will be operating out of the Media & Advertising department of IAC's stable of properties.
Chris Richardson is a search engine writer and editor for WebProNews. Visit WebProNews for the latest search news.
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