Media conglomerate IAC/InterActiveCorp agreed Monday to buy search and portal Web site operator Ask Jeeves Inc. in a stock-swap deal the companies valued at around US$1.85 billion.
AC Chairman and Chief Executive Officer (CEO) Barry Diller said he sees Ask Jeeves as a company with “the potential to become one of the great brands on the Internet.” IAC, citing comScore’s Media Metrix, estimates that Ask Jeeves draws 42 million unique monthly users in the U.S., while its own Web sites collectively attract 44 million.
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