FAST Acquires AltaVista Enterprise Search Business.Business Editors/High-Tech Writers OSLO, Norway--(BUSINESS WIRE)--June 17, 2003 Fast Search & Transfer-- -- Latest Search Market Consolidation Expands FAST's Worldwide Presence, and Provides AltaVista Customers With Improved Support and Opportunity to Adopt FAST's Real-time Search Solutions Fast Search & Transfer(TM) (FAST(TM)), the leading developer of enterprise search and real-time alerting technologies, today 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(TM), FAST's powerful suite of enterprise search and real-time filter solutions. "This acquisition presents a winning situation for everyone involved and aligns perfectly with our strategy to set new standards in the enterprise search market," commented Ali I. Riaz, FAST's chief operating officer Chief Operating Officer (COO) The officer of a firm responsible for day-to-day management, usually the president or an executive vice-president. . "In addition to providing dedicated support and maintenance to the newly acquired customers, this acquisition gives AltaVista enterprise search customers and partners the opportunity to experience the power of FAST's highly-scalable and flexible suite of enterprise search solutions. As the enterprise search market continues to consolidate, this milestone further strengthens our position in the market, and enables FAST to broaden its market presence worldwide." 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 without interruption, it will encourage these customers to migrate to the FAST Data Search platform. The FAST platform provides all of the features and benefits of the AltaVista enterprise search solution, allowing for a smooth and effective migration, while also offering an attractive opportunity to enhance their current search offerings with a comprehensive combination of powerful, real-time search technology, business search management tools, and information analysis capabilities. The unique, single-platform approach of FAST Data Search is setting new, enterprise search standards for customers and partners worldwide by providing them with flexible and scalable, industrial strength search solutions that address their needs and allow them to migrate from smaller installations to enterprise-wide deployments, as required, without changing software platform. Ideal for smaller installations to the most demanding search and retrieval cases, FAST Data Search enables companies and organizations to develop information transparency and utilization across organizational units and geographical areas. This results in improved efficiency through collaboration, information sharing See data conferencing. , and real-time data Real-time data denotes information that is delivered immediately after collection. There is no delay in the timeliness of the information provided. Some uses of this term confuse it with the term dynamic data. monitoring and filtering. With advanced linguistic technologies, categorization, dynamic result clustering, and support for over 225 file formats and 54 languages, the FAST Data Search product suite supplies a complete information retrieval information retrieval Recovery of information, especially in a database stored in a computer. Two main approaches are matching words in the query against the database index (keyword searching) and traversing the database using hypertext or hypermedia links. solution ideal for key vertical markets including Financial Services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. ; Government and Intelligence; Media and Publishing; Life Sciences and Pharmaceuticals; and e-Commerce and portal applications. About FAST Fast Search & Transfer (FAST) creates the real-time search and filter technology solutions that are behind the scenes at the world's best known companies with the most demanding search problems. FAST's flexible and scalable integrated technology platform enables enterprise customers to elevate their search capabilities to unprecedented levels. FAST closes the gap between information and action, connecting people to the relevant information they seek regardless of medium, in turn driving revenue and reducing total cost of ownership by effectively leveraging IT infrastructure for our clients and world-class partners. A wide range of Global 3000 customers and partners, including AT&T, Cardinal Health <includeonly></includeonly> Cardinal Health (NYSE: CAH) is a premier, global healthcare company dedicated to making healthcare safer and more productive. Overview Headquartered in Dublin, Ohio, Cardinal Health, Inc. , CareerBuilder, Chordiant, CIGNA CIGNA CG (Connecticut General Life Insurance Company) INA (Insurance Company of North America) , Dell, FirstGov.gov (GSA (1) (Global mobile Suppliers Association, Sawbridgeworth, U.K., www.gsacom.com) A membership organization of suppliers of GSM products and services. Its goal is to promote GSM as the worldwide mobile communications standard. See GSM Association and GSM. ), Freeserve, IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Matrix (Italia Telecom), Overture, Reed Elsevier, Reuters, and T-Online (Deutsche Telecom) currently use FAST's powerful enterprise search technology solutions. FAST operates globally with offices in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. (Boston, San Francisco), Europe (Norway, France, Germany, Italy, UK), and Japan. FAST is publicly traded under the ticker symbol Ticker Symbol An arrangement of characters (usually letters) representing a particular security listed on an exchange or otherwise traded publicly. When a company issues securities to the public marketplace, it selects an available ticker symbol for its securities which investors 'FAST' on the Oslo Stock Exchange Oslo Stock Exchange An exchange founded in 1819 and trading stocks, bonds, and stock options that is considered the options market of Norway. . Please visit www.fastsearch.com for more information. (C)2003 Fast Search & Transfer ASA Asa (ā`sə), in the Bible, king of Judah, son and successor of Abijah. He was a good king, zealous in his extirpation of idols. When Baasha of Israel took Ramah (a few miles N of Jerusalem), Asa bought the help of Benhadad of Damascus and - Fast Search & Transfer, FAST, and the FAST four-colored logo are trademarks of Fast Search & Transfer ASA. All rights reserved. FAST disclaims any proprietary interest in the marks and names of others. All other trademarks mentioned in this document are the property of their respective owners. |
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