America Online is to offer Excite's search engine as its only Web search tool and at the same time Excite will buy America Online's Webcrawler service for about 2 million shares.
The deal will raise AOL's stake in Excite from 10% to 20% and have raised the value of the shares to about $18 million (u11.25 million) from less than $10 million.
Steve Case, still recovering from AOL's last quarter results, managed a smile at a news conference where he promised to give "Yahoo and the others, a run for their money".
The new tool will be marketed by both companies as America Online Search Powered by Excite and is expected to make both companies more enticing for prospective advertisers.
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