In a stock transaction valued at $9.25 million, the San Francisco based search portal will integrate the search results over the coming months.
Speaking about the acquisition, Looksmart's DEO and chairman said:
"As we integrate WiseNut's search technology over the next few quarters, LookSmart will be able to offer our portal and ISP partners a full service solution that includes a scalable billion document index infrastructure, next generation search relevance and strong listings revenue. By acquiring WiseNut, LookSmart becomes the first company to have both high quality scalable search technology and strong listings revenue generation. We believe this will position us to compete with companies that have only one of these capabilities."
