Yahoo completes takeover of Overture

By Steve Malone

Posted on 8 Oct 2003 at 10:21

Internet portal, Yahoo Inc, has announced that it has completed the acquisition of the pay-per-position specialist Overture.

The announcement follows the approval by Overture's shareholders which was given on 7 October.

The deal which was announced in July is one more step towards Yahoo's goal of providing a one-stop solution for search services. By using Yahoo's traditional brand recognition and service, coupled with its acquisition of the Inktomi search engine means that Yahoo is in position to take on Google for the hearts and cash of Internet users world wide.

As well as Inktomi, Yahoo now finds itself the owner of three of the Web's best known search engines with Overture's Alta Vista and Alltheweb. Quite what Yahoo intends to do with three different search engines in its stable remains unclear.