Barry Diller outlines the benefits to IAC (ticker: IACI) of the Ask Jeeves (ticker: ASKJ) acquisition announced today:
...our goal is to make Ask the search engine with the best local search content and merchant information out there... IAC Local, Citysearch, ServiceMagic and Entertainment Publications has the most comprehensive database of local content and local merchants. 116,000 are in our network.
Additionally, IAC's vision is to integrate our InterActive commerce sites and present relative offers directly in the Ask search results page consistent, of course, with the best consumer experience. Through this acquisition IAC is going to be creating a traffic ecosystem, sending traffic back and forth between IAC sites from Ask to our brands and vice versa. Examples include an Ask Jeeves search every IAC site; finding information on concerts and buying tickets; searching for real estate and time shares; printing a coupon. All from within search. Products and offers from HSN, Ticketmaster, Match, Lending Tree integrated into Ask Jeeves' smart search features like special Ticketmaster inventory, HSN offers and EPI's Entertainment Rewards. We will put in place a long-term distribution deal for the Expedia companies to have dedicated distribution on the Ask Jeeves properties.
(Quotes are from the CCBN StreetEvents transcript.)