Travel and media conglomerate IAC/InterActiveCorp on Monday said it will buy Web search engine Ask Jeeves, Inc. for nearly $1.85 billion as it looks to capitalize on growth in the Internet advertising and search markets.

InterActiveCorp said it will issue 1.2668 shares of its stock for each Ask Jeeves share and then buy back at least 60 percent of the shares it issues to offset their dilution.

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