New York—IAC/InterActiveCorp announced Monday it has signed an agreement to acquire search engine Ask Jeeves. The stock deal is valued at $1.85 billion and is expected to close late in the second quarter or early in the third quarter.
IAC Chairman-CEO Barry Diller said IAC would apply its brand management and marketing expertise to the venture as well as its investment.
IAC plans to integrate IAC’s well-established brands—such as Expedia, Hotels.com, Ticketmaster, CitySearch, Match.com and HSN (Home Shopping Network)—into Ask Jeeves’ search properties. IAC also plans to enhance Ask Jeeves’ local search.
Steve Berkowitz will continue as Ask Jeeves’ CEO.