Tiscali: Sale of Excite to Ask Jeeves: “Tiscali announces the sale of Excite Italia BV to Ask Jeeves Inc. for a total cash consideration of EUR 6.1 millions. The divesture of Excite Italia BV, which owns the Excite brand in key European countries, ratifies Tiscali’s focus of its portal activities under the Tiscali brand and represents another step of the announced strategy of disposing of non-core assets.”
So, the Butler has made another buy, albeit a small one. It bought blog aggregation, creation, and news reading service Bloglines in February for an undisclosed amount and last year purchased Interactive Search Holdings, Inc., for $365 million in cash and stock. However, this deal, at a purchase price of approximately $7.8 million USD in cash, seems to be a bargain given that it includes the trademarks, domain names, and Web portals for Excite in the United Kingdom, Spain, the Netherlands, Italy, Germany, and France. It makes sense – since Jeeves already owns Excite, not to mention, iWon, MyWay, MyWebSearch, and adware purveyor Fun Web Products.
Interestingly, it comes just a couple months before IAC/InterActiveCorp completes its purchase and integration of Ask Jeeves, Inc., while spinning off Expedia, Inc., into a separate publicly-traded business.