Yahoo To Buy Inktomi For $235 Million

Yahoo said it expects the acquisition to close in the first quarter and add to earnings within 12 months.

Inktomi, based in Foster City, Calif., reported a loss of $131.6 million, or 87 cents a share, on revenue of $20.45 million for its fiscal fourth quarter ended Sept. 30.

Intomi shares soared Monday morning on news of the buyout, jumping 37 percent, or 43 cents, to trade at $1.60, on the Nasdaq Stock Market. The stock hit a 52-week low of 23 cents on Oct. 1 and traded at a 52-week high of $7.97 back in January.

Santa Clara, Calif.-based Yahoo shares traded Monday morning at $17.33, up 25 cents, or 2 percent, also on the Nasdaq.

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