Ask Jeeves, Inc. has entered into a definitive agreement under which Kanisa, Inc. will acquire Jeeves Solutions, the enterprise software division of Ask Jeeves. Jeeves Solutions’ search technology and analytics will enable Kanisa to offer a larger, more robust suite of customer service solutions. With the sale, Ask Jeeves will focus solely on its growing Web-wide search business. Under the terms of the agreement, Kanisa will acquire substantially all assets of Jeeves Solutions including the JeevesOne technology and its approximately 40 corporate customer accounts. Kanisa will pay a purchase price of $4.25 million, of which $3.5 million will be paid in cash on closing and the remaining in a one-year promissory note for $750,000, which is subject to certain conditions. The sale is expected to close in July 2003.
www.AskJeevesInc.com

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