FAST Acquires AltaVista Enterprise Search Business

Jun 17, 2003

Fast Search & Transfer (FAST), developer of enterprise search and real-time alerting technologies, has announced the acquisition of the AltaVista enterprise search business, including more than two hundred customers, from Overture Services, Inc. for an undisclosed cash amount. Overture obtained the enterprise search business as part of the acquisition of the business of AltaVista, which was announced on April 28, 2003. FAST's acquisition of AltaVista's enterprise search business will allow FAST to provide AltaVista's customers uninterrupted support and maintenance on their current platform and an opportunity to migrate to FAST Data Search, FAST's suite of enterprise search and real-time filter solutions. This acquisition will not affect FAST's product direction, as there are no plans to integrate the AltaVista enterprise search technology with FAST Data Search. As FAST continues the support and maintenance of current AltaVista enterprise search customers, it will encourage these customers to migrate to the FAST Data Search platform. With linguistic technologies, categorization, dynamic result clustering, and support for over 225 file formats and 54 languages, the FAST Data Search product suite is tailored for vertical markets including Financial Services; Government and Intelligence; Media and Publishing; Life Sciences and Pharmaceuticals; and e-Commerce and portal applications.