LOK looksmart limited

Signs new Microsoft deal

  1. 2,070 Posts.
    LOK is trading at 1-year lows but just released a new announcement re Microsoft. The rumour was they might lose the MSN arrangement but instead it has been extended to include the new Small Business (paid) Listings.

    There is also a likely maiden profit at the end of October.

    AN FRANCISCO, Calif., September 17, 2002 - LookSmart (Nasdaq: LOOK, ASX: LOK), a global leader in search targeted marketing, today announced that it has extended and expanded its strategic agreements with two key distribution partners.

    LookSmart and Microsoft have signed a contract to cover the distribution of LookSmart's Directory Listings and Small Business Listings on MSN through December 3, 2003. The amendment replaces a distribution agreement for Directory Listings alone and adds Small
    Business Listings to the program. The new contract does not affect LookSmart's principal database licensing agreement with MSN which runs through December 3, 2003.

    "We've been very pleased with LookSmart's search product throughout our long relationship," said John Krass, general manager for MSN at Microsoft. "We look forward to strengthening our ties as we work together to improve the quality of the user search experience."

    "We've partnered with MSN in the U S and 28 other countries since 1998," said Brian Cowley, senior vice president of business development for LookSmart. "We share their commitment to search quality and embrace the opportunity to deliver further advances in user relevance and advertiser effectiveness."

    LookSmart also announced the renewal of its contract with AltaVista through August 2003. LookSmart will continue to provide search results under the "Directory" tab.
 
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