Inktomi to Buy Web Searching Firm

SAN FRANCISCO (06/08/2000) - Internet search technology vendor Inktomi Corp. today said it has signed an agreement to buy Ultraseek Corp., a subsidiary of Walt Disney Co.'s Internet portal,

Inktomi said it will pay US$3.5 million in cash and $341.2 million in its common stock for Ultraseek, which provides customizable search and navigation software for enterprises. Of the total sum, will receive $317.5 million, according to Inktomi. Subject to regulatory conditions, the deal should close in the September quarter.

The acquisition will allow Inktomi to offer enhanced search technology for corporate intranets and extranets, David Peterschmidt, president and chief executive officer of Inktomi, said in a statement issued today.'s decision to sell Ultraseek is part of its strategy to concentrate on using Disney's creative content to provide consumer entertainment, information and services over the Internet, Steve Bornstein, chairman, said in the statement.

Inktomi, in Foster City, California, can be contacted at +1-650-653-2800, or at's, in Burbank, California, can be reached at +1-818-623-3200, or at

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