Internet query engine, Ask Jeeves Inc said yesterday it had struck a $288.1m stock-based deal to acquire Net Effect Inc, a company which offers hosted real-time help services linked to telephone call centers for email, telecommunications systems and CRM software.
Ask Jeeves’ technology enables internet users to obtain information by posing questions in conversational English. The company said the acquisition of Net Effect will allow it to link users to live experts alongside the text-based service. The functionality will be added to Ask Jeeves’ corporate service, which is currently subscribed to by Microsoft Corp, Dell Computer Corp and BellSouth Corp, among others. Net effect’s client roster includes Yahoo! Inc and SBC Communications Inc.
Under the deal Emeryville, California-based Ask Jeeves will exchange 1.835 million shares for Net Effect, which is privately owned. After the deal is closed, which is expected to be before the end of the year, investors in North Hollywood, California- based Net Effect will hold a 5.5% stake in Ask Jeeves.
