FAST Focuses on Enterprise Search Market

Mar 04, 2003

Fast Search & Transfer (FAST), a developer of search and real-time alert technologies, has announced its intention to leverage technology and increase market share in the enterprise search market. This news comes on the heels of the February 25 announcement that Overture acquired FAST's Internet business assets, for $70 million in cash as well as performance-based cash incentive payments of up to $30 million over the next three years. FAST will remain focused on the strategy of delivering search solutions for the enterprise search market, which currently comprises over 75% of FAST's revenue. FAST targets vertical sectors including financial services, ecommerce, government applications, pharmaceutical/life sciences, and publishing and media. FAST Data Search serves as the foundation for a variety of industry specific search-based applications and offers linguistic technologies, categorization and dynamic result clustering, and support for over 225 file formats and 49 languages.