AOL gets stake in Excite

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Excite, an Internet search engine, on Monday announced it has acquired America Online's WebCrawler search engine in exchange for 2 million shares of Excite stock. The deal, giving AOL a 20% stake in the company, essentially makes Excite the biggest search engine online. As part of the deal, AOL and Excite have also entered into a 5-year distribution agreement. AOL will offer its 7 million subscribers a new search service to be branded AOL Search Powered by Excite. AOL will handle ad sales for the engine, but revenues will be split between the online service and Excite.

Copyright November 1996, Crain Communications Inc.

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