Yahoo to Buy Overture for $1.6 Billion; Acquiring the Pasadena- based Internet search firm would fuel competition with Google and Microsoft.

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Yahoo to Buy Overture for $1.6 Billion; Acquiring the Pasadena- based Internet search firm would fuel competition with Google and Microsoft.
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Los Angeles Times - Los Angeles, Calif.
Subjects:	Search engines, Acquisitions & mergers
Author:	James Bates and Alex Pham
Date:	Jul 15, 2003
Start Page:	C.1
Section:	Business; Part C; Business Desk
Text Word Count:	1067



Abstract (Document Summary)



Yahoo agreed to pay $4.75 in cash and 0.6108 share of Yahoo stock for each Overture share. Rumors that Sunnyvale, Calif.-based Yahoo would buy Overture have circulated for some time and came as no surprise to Wall Street in light of the companies' existing partnership, in which Overture and Yahoo share fees from ads that appear alongside search results on Yahoo. Searching for results; CREDIT: Los Angeles Times; IF IT FITS: Yahoo's founder, Jerry Yang, left, and its CEO, [Terry Semel], right, present Overture's [Ted Meisel] with a Yahoo shirt in Pasadena after announcing the deal.; PHOTOGRAPHER: Ken Hively Los Angeles Times; FASTER: Overture Chief Executive Ted Meisel said uniting with Yahoo would accelerate the Internet search firm's product development and improve its ability to serve customers.; PHOTOGRAPHER: Ken Hively Los Angeles Times Reproduced with permission of the copyright owner. Further reproduction or distribution is prohibited without permission.



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