BELLEVUE, Wash.—Wireless and Internet software and application services provider InfoSpace Inc. said the U.S. Bankruptcy Court for the Northern District of California approved its bid to purchase certain Excite.com media assets.
InfoSpace said the assets will increase the company’s position in the search and directory markets by expanding the distribution for InfoSpace’s products. The InfoSpace purchase includes the right to offer wireless services to Excite.com users, the company said.
“We believe this is a solid business opportunity that will expand distribution for our profitable search and directory products,” said Naveen Jain, InfoSpace’s chairman and chief executive officer. “This opportunity is in line with our strategy to continue to license our platform of wireline products to blue-chip customers and provides another recurring revenue stream in our wireline business.”
