Weil, Gotshal & Manges LLP, one of the world’s leading law firms, advised privately-held Interactive Search Holdings, Inc. in its agreement, announced yesterday, to be acquired by Ask Jeeves, Inc. The deal was led by Weil Gotshal’s Silicon Valley office, in collaboration with the firm’s New York and Washington, D.C. offices.
“The synergy between the firm’s Mergers & Acquisitions practice groups in New York and Silicon Valley, combined with our expertise in the technology and media sectors, were key to our participation in this transaction,” said Howard Chatzinoff, Weil Gotshal’s co-lead partner on the deal.
Richard Millard, the Weil Gotshal partner who led the firm’s Silicon Valley team, added, “With our client based in New York and the negotiations in the Bay Area, our ability to function seamlessly on both coasts was critical.”
Ask Jeeves will issue 9.3 million shares of common stock and options and pay $150 million in cash. This reflects an aggregate purchase price of $343 million based on Ask Jeeves’ closing price on March 3, 2004. In addition, Ask Jeeves may pay up to an additional $17.5 million in cash based on various factors including Interactive Search Holdings’ operating performance.
Interactive Search, whose properties and subsidiaries include My Way, My Search, My Web Search, iWon, Excite and MaxOnline, is one of the largest online search and media companies in the world. Ask Jeeves is a provider of Web-wide search, providing consumers with authoritative and fast ways to find relevant information to their everyday searches.
Weil, Gotshal & Manges LLP is an international law firm of more than 1,100 attorneys, including approximately 300 partners. Weil Gotshal is headquartered in New York, with offices in Austin, Boston, Brussels, Budapest, Dallas, Frankfurt, Houston, London, Miami, Munich, Paris, Prague, Silicon Valley, Singapore, Warsaw and Washington, D.C.
Weil, Gotshal & Manges LLP’s Team
Partners: Howard Chatzinoff (Corporate – New York), Helyn S. Goldstein (Tax – New York), Richard S. Millard (Corporate – Silicon Valley).
Counsel: John M. Sipple (Regulatory – Washington, D.C.)
Associates: Kyle C. Krpata, Nadine Matta and Ryan Gallagher (Corporate – Silicon Valley); Michael R. Hoernlein (Tax – New York); Dale G. Nissenbaum (Intellectual Property – New York).