Fast Search & Transfer (FAST), a developer of search and real-time filtering technologies, has announced that NTT-X, Inc., a Japanese Internet service provider, has selected FAST to power the multimedia searching capabilities on its search engine portal site, goo (www.goo.ne.jp). Recognizing higher demands for searching picture, video, and music documents from its users, and in particular from broadband users, NTT-X selected FAST Multimedia Search for its speed, freshness, and catalog of over 130 million multimedia web objects. Refreshed every 25-30 days, FAST Multimedia Search will enhance the goo search engine portal site by presenting its users with a wide variety of audio, video, and image formats. FAST Multimedia Search, an integrated multimedia search product, is designed to help portals aggregate and organize multimedia content. On February 25, 2003, Overture Services, Inc. announced that it signed a definitive agreement to acquire FAST's Internet business unit assets (including FAST WebSearch, FAST PartnerSite, and AlltheWeb.com) for $70 million in cash and performance-based cash incentive payments for up to $30 million over the next three years. The deal is expected to close in April 2003. In addition, Overture has an existing commercial search relationship with NTT-X, which operates the goo Internet portal.
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