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IAC/InterActiveCorp: Iac Announces Extension Of Google Relationship NEW YORK October

The following excerpt is from the company's SEC filing.

, 2015

IAC (NASDAQ: IACI) today announced that it has entered into a new agreement with Google which will extend their long-term relationship through March 2020. The new agreement will take effect on April 1, 2016 (following expiration of the current services agreement in place between the parties) and run through March 31, 2020.

Under the new agreement, Google will continue to provide IAC and its affiliate partners with sponsored listings and other search-related services for display on both desktop and mobile platforms. The new agreement is largely exclusive with respect to desktop platforms, w ith economics for IAC consistent with the current arrangement between the parties. With respect to mobile platforms, the arrangement is non-exclusive, but at a lower revenue share for IAC.

Im extremely pleased to announce the extension of our 14-year relationship with Google, said Joey Levin, CEO of IAC. Weve generated nearly $10 billion in revenue to date through the life of our partnership, and this extension makes clear that we have plenty more to deliver. Googles search and search advertising products remain the strongest in the world, and we believe that this renewal puts us in a solid position for the years ahead.

About IAC

IAC (NASDAQ: IACI) is a leading media and Internet company. It is organized...