November 30, 1999
GoTo.com to Acquire Cadabra Inc.
GoTo.com, Pasadena, CA, yesterday announced that it intends to acquire Cadabra Inc., San Mateo, CA, an Internet-based provider of comparison-shopping services. The deal is expected to be completed as early as January. GoTo will acquire Cadabra for $250 million, $8 million in cash with the remaining balance to be paid in GoTo stock.
The goal for GoTo is to utilize Cadabra's search and comparison technology. Cadabra's comparison shopping tool will allow GoTo to facilitate more targeted high-value introductions between consumers and merchants by driving consumers to sites selling their desired products at the price they are looking for.