Ask Jeeves Sold For $1.9 Billion

Ask Jeeves, the fourth largest search engine, has been purchased for almost $2 billion dollars to IAC/InterActiveCorp.

“IAC will issue 1.2668 shares of its stock for each share of Ask Jeeves. That would represent a premium of about 16 percent for Ask Jeeves shareholders, based on Friday’s closing prices.

Shares of Ask Jeeves gained $3.41, or 14 percent, to $27.65 in pre-market trading on Inet following Monday’s announcement, while shares of IAC lost 60 cents, or about 2.5 percent, to $21.69. “

Ask Jeeves owns the popular advertising network MaxOnline, and is the 9th largest web company.

For those of you unfamiliar with IAC/InterActiveCorp, the company owns properties such as Ticketmaster, home shopping service HSN and travel site Expedia.

Read more at CNN/Money