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Mergers & Acquisitions

Feb. 15, 2000

Ask Jeeves About Its Purchase of Direct Hit

Internet service provider AskJeeves Inc. will acquire Direct Hit Technologies Inc. in a tax-free stock-for-stock transaction valued at $500 million. A total of 5.12 million unregistered shares of AskJeeves stock will be exchanged with Direct Hit's outstanding shares. The deal is expected to close in the first quarter of 2000.

        Internet service provider AskJeeves Inc. will acquire Direct Hit Technologies Inc. in a tax-free stock-for-stock transaction valued at $500 million. A total of 5.12 million unregistered shares of AskJeeves stock will be exchanged with Direct Hit's outstanding shares. The deal is expected to close in the first quarter of 2000.
        Emeryville-based AskJeeves specializes in natural-lan...

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