GoTo, a leading provider of pay-for-performance search, comparison shopping services and auction services to web sites across the Internet, today announced its acquisition of SearchUP Inc., a Hawaii-based corporation focused on the development of Internet related services. GoTo will transfer 261,255 shares of GoTo common stock to SearchUP, in exchange for substantially all of its assets, including its existing operational web site, database of registered members, registered URLs, trademarks, and the patent obtained by SearchUP on their URL Position Manager.
SearchUP created an Internet directory service that allows web sites the equal opportunity to determine their personal placement within the system through the use of the URL Position Manager. Since each sector of the market has a different commercial value, both large and small web sites can compete in their own respective markets. The patent on URL Position Manager strengthens GoTo's already existing robust account management tool for advertisers. "SearchUP's technology and systems are a great fit with GoTo," said Jay Gallinatti, senior vice president, GoTo. "Our advertisers can only benefit from our increased focus on serving them, as we continue to expand our Internet reach."
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