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NEW YORK Overture, a provider of pay-for-performance search to Web sites, said it has completed its acquisition of the Internet business unit of Fast Search & Transfer.
In accordance with the terms of the deal as outlined in February, Pasadena, Calif.-based Overture paid $70 million in cash for the Oslo, Norway, company’s Web search technology assets, related intellectual property rights, personnel and data centers in Sacramento, Calif., and London [IQ Daily Briefing, Feb. 25]. The transaction also provides for up to $30 million over three years in performance-based cash incentives.
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