Sensis buys LookSmart

Sensis a wholly-owned subsidiary of Telstra buys Looksmart's Australian arm. The company appointed Australian boss Damian Smith as its interim chief executive said the company was working to rebuild itself and generate long term profitability. "We are dramatically cutting costs, positioning our pay-for-placement business for growth and applying our technology assets to capture new and exciting opportunities in the large, growing and profitable internet search industry," he said.