GoTo acquires SearchUP Inc.
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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