The new Find.com service will leverage Scientigo's Tigo intelligent search technology to exploit niches in the search arena, starting with personalized local, mobile, and product search. This acquisition is the latest in a series of purchases, partnerships, alliances, and technology licenses between Scientigo and providers in specific vertical industries, including intelligent search, intelligent document recognition, and intelligent enterprise content management. Scientigo contributed a Tigo search license to the subsidiary, and paid Find SVP $500,000 in cash, note, and Scientigo common stock, together with 49% of the subsidiary, for contributing the Find.com URL and related assets. Scientigo also has an option to acquire the 49% of Tigo Search, Inc., owned by Find SVP for $700,000 in cash and Scientigo common stock during the next six months. (www.scientigo.com; www.findsvp.com) |
