Bellevue-based InfoSpace Inc. Wednesday said the U.S. Bankruptcy Court for the Northern District of California approved its bid for certain assets of Excite.com media, including domain names, trademarks and user traffic associated with the Excite.com Web site.
InfoSpace will not assume materials or costs associated with Excite’s physical assets as part of the deal. The company said the deal expands the distribution for its products and gives it the right to offer wireless services to Excite.com users. In connection with the sale, InfoSpace struck an Internet services agreement with iWon, under which InfoSpace will power the search and directory components of Excite.com, and sell and/or license the portal’s other components to iWon.
“We believe this is a solid business opportunity that will expand distribution for our profitable search and directory products,” said Naveen Jain, chairman and chief executive of InfoSpace. “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.”
