Fast Search & Transfer Acquires Platefood for $10.7 Million

Authored by Mark Hefflinger on November 28, 2006 - 2:57pm.

Oslo, Norway - Fast Search & Transfer (FAST), a developer of search technologies, announced on Tuesday that it has acquired Platefood Limited, a provider of online search and search-based advertising services to media firms, for $10.7 million in cash.

Prior to the deal, FAST owned 19% of Platefood, which was founded in 2005 as a joint investment by FAST, Schibsted and Sensis. FAST intends to consolidate the Platefood business into its current operations to capitalize on the rapidly growing market for search-based monetization solutions.

Oslo-based FAST's search technologies are used by customers including AOL, Dell, LexisNexis, CNET and Knight Ridder.

Related Links:
http://tinyurl.com/yztfmj
http://www.fastsearch.com
http://www.platefood.com