Yahoo! to Acquire European E-Commerce Concern

NEW YORK Yahoo! on Friday said it plans to acquire Kelkoo, a leading European online comparison-shopping service. Yahoo! will purchase up to 100 percent of the share capital of Kelkoo for an aggregate cash purchase price of approximately $570 million. The transaction is expected to close during the second quarter.

“Commerce has emerged as a key component of search, and the combination of Web search, product search and comparison shopping will help further Yahoo!’s goal to create the most comprehensive and best user experience on the Web globally,” said Terry Semel, chairman and chief executive officer, Yahoo! “Kelkoo will add depth and breadth to Yahoo!’s integrated network of services for consumers, and adds another set of powerful tools for marketers seeking to reach them.”