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Tech Industry

Yahoo-Overture deal gets antitrust nod

Yahoo said its proposed $1.63 billion acquisition of Overture Services has received antitrust approval from the U.S. Department of Justice. The companies must undergo shareholder votes before their merger officially closes. Overture shareholders will vote at 8:00 a.m. PT on October 7, at the Marriott Courtyard Old Pasadena Hotel in Pasadena, Calif.

Yahoo announced its intention to acquire Overture in July. Up until then, Overture has been one of Yahoo's more lucrative partners, fueling about 20 percent of Yahoo's quarterly revenue through its paid search business. Advertisers pay Overture a fee every time someone clicks on their link. Yahoo hosts Overture links in the margins of its Web search service and has enticed millions of people to clicking on these links.