Altavista was sold for 140 million $, to Overture. (La Repubblica)
(My rough transl. from article above, in Italian):
3 months ago Altavista had redone it's graphical look, trying to get back it's fascine. But not even that did work, so Cgmi had no other alternative that selling Altavista - one of the search engine - icons, born in 1995. The buyer was Overture, for 140 million $: 60 in cash and 80 in actions.
In 1999 Cgmi had bought Altavista (250 employees, doing internet searches in 25 languages) from Compaq for 2,3 mrd $. The max. of Cmgi as title rose to 163,5 $. It was in the boom of new economy. Now the title is worth 1,01 $, with 22 % of more value due to selling Altavista.
Overture instead has risen 8,2 % to 20,9 $ after announcing about buying Altavista. The possession of Altavista permits Overture to be more and more in competition with the big ones, especiallt Google, Ask Jeeves and Look Smart.
(My rough transl. from article above, in Italian):
3 months ago Altavista had redone it's graphical look, trying to get back it's fascine. But not even that did work, so Cgmi had no other alternative that selling Altavista - one of the search engine - icons, born in 1995. The buyer was Overture, for 140 million $: 60 in cash and 80 in actions.
In 1999 Cgmi had bought Altavista (250 employees, doing internet searches in 25 languages) from Compaq for 2,3 mrd $. The max. of Cmgi as title rose to 163,5 $. It was in the boom of new economy. Now the title is worth 1,01 $, with 22 % of more value due to selling Altavista.
Overture instead has risen 8,2 % to 20,9 $ after announcing about buying Altavista. The possession of Altavista permits Overture to be more and more in competition with the big ones, especiallt Google, Ask Jeeves and Look Smart.
