Monday, May 09, 2005
Ask Jeeves eyes growth under IAC umbrella: "By Lisa Baertlein - Reuters - Sunday, May 8, 2005; 2:11 PM
OAKLAND, Calif. (Reuters) - The Ask Jeeves butler wants to kick some serious butt.
Emboldened by its pending purchase by Barry Diller's deep-pocketed Web conglomerate Interactive Corp, Web search provider Ask Jeeves Inc. plans to take square aim at industry giants Google Inc. and Yahoo Inc. when the deal closes.
'This is a deal focused on growth,' said Steve Berkowitz, chief executive of Ask Jeeves, which is best known for its cartoon butler mascot.
'We're going to have access to more capital, more opportunities. We get to play on that larger playing field,' Berkowitz said in a recent interview. IAC has about $4 billion in cash while Ask Jeeves has about $100 million, he said, illustrating the greater resources the company would have access to.
IAC is paying nearly $2 billion for Ask Jeeves and the transaction is slated to close this summer..."
OAKLAND, Calif. (Reuters) - The Ask Jeeves butler wants to kick some serious butt.
Emboldened by its pending purchase by Barry Diller's deep-pocketed Web conglomerate Interactive Corp, Web search provider Ask Jeeves Inc. plans to take square aim at industry giants Google Inc. and Yahoo Inc. when the deal closes.
'This is a deal focused on growth,' said Steve Berkowitz, chief executive of Ask Jeeves
'We're going to have access to more capital, more opportunities. We get to play on that larger playing field,' Berkowitz said in a recent interview. IAC has about $4 billion in cash while Ask Jeeves has about $100 million, he said, illustrating the greater resources the company would have access to.
IAC is paying nearly $2 billion for Ask Jeeves and the transaction is slated to close this summer..."
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