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NEW YORK Overture, provider of pay-for-performance search to Web sites, has agreed to buy AltaVista, an Internet search company that is majority owned by CMGI, for $140 million.
The deal, which is expected to close in April upon customary approvals, calls for Overture to issue $80 million worth of common stock to Palo Alto, Calif.-based AltaVista, plus $60 million in cash. The Pasadena, Calif., company will also assume certain AltaVista liabilities.
The acquisition is meant to bolster Overture’s Web search offerings to portals, Internet service providers and other destination sites and marketing programs for advertisers.
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