Ask.com buys About.com for $300M

Ask.com buys About.com for $300M

Summary: IAC's search business Ask.com buys the content site for US$300 million in cash, noting that synergies between both companies will boost profitability of About and credibility of Ask.

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TOPICS: Tech Industry
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IAC's search engine business Ask.com has acquired content Web site, About.com, from The New York Times Company for US$300 million in cash.

In a press statement Monday, IAC CEO Greg Blatt said the acquisition was "completely in line" with the company's mergers and acquisitions strategy and the two businesses were "complementary and synergistic".

"About.com's content will differentiate and greatly increase the authority of Ask.com's offerings, while Ask's expertise in search technology and user experience will improve the discoverability of existing content on About.com," Blatt  said.

The acquisition will help About.com, a content and references site, generate more profit as part of Ask.com and IAC,  he added.

Joey Levin, CEO of IAC search and applications, added in the same statement that About.com gives a "tremendous amount of quality content" to further enhance user experience and credibility of the Ask brand. "[IAC] can now market and distribute that content and the About brand through Ask, and significantly increase traffic and profitability at About," Levin said.

The About Group will join IAC's search and applications reporting segment of Ask.com, Dictionary.com, Mindspark, nRelate, and Pronto, IAC said. About CEO Darline Jean will report to Doug Leeds, the CEO of Ask.com.

Topic: Tech Industry

Jamie Yap

About Jamie Yap

Jamie writes about technology, business and the most obvious intersection of the two that is software. Other variegated topics include--in one form or other--cloud, Web 2.0, apps, data, analytics, mobile, services, and the three Es: enterprises, executives and entrepreneurs. In a previous life, she was a writer covering a different but equally serious business called show business.

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