LookSmart And BT End Joint Venture

Search targeted marketing company BTLookSmart will now be known as LookSmart, after BT and LookSmart agreed to end their joint venture.

LookSmart will continue to operate independently and will undergo restructuring. The company also announced that it has reached agreement with BT regarding the debt relating to the joint venture, which will leave the group substantially debt free.

Jason Kellerman, chief executive officer of LookSmart, commented: “We’re pleased to announce this restructuring of LookSmart’s international operations, we continue to see valuable opportunities for internet search in the Japanese and UK markets. The progress BTLookSmart has made provides LookSmart with a strong platform for growth and this restructuring will enable us to take advantage of operating efficiencies not previously available. I want to thank BT for being a great partner over the past three years.”

Search-targeted marketing has proved to be increasingly popular over the last year, as advertisers look to cheaper and more accountable ways of getting their message across. BTLookSmart’s chief operating officer, Kevin Kerrigan, has claimed that search targeted marketing offers return on investment rates that are typically 5-10 times higher than other forms of advertising (see NewsLine Column: A New Phenomenon In Advertising?).

BT LookSmart has secured a number of high profile campaigns this year, the group recently announced announced a series of advertising deals with online real-estate companies Assertahome, Fish4homes, Smart Estates and Primelocation.com (see BTLookSmart Lands Estate Agent Deals).

BTLookSmart: 0207 401 5555 www.btlooksmart.co.uk

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