The move comes as the company shifts away from its consumer roots to being a purely business-to-business firm. It generates revenue by partnering search engines and building a database of advertisers, which pay Overture every time a visitor clicks through on a link.
As of Thursday, the company will operate under the new name and it will now be listed as on the Nasdaq as OVER.
The company has been running in the UK since November last year, and claims to be bucking the current trend in internet companies by increasing in size, not laying off staff.
Its partner companies in the UK include Excite and Freeserve. In the US, Overture has agreements with AOL, Microsoft and AltaVista.
Overture plans to phase out the GoTo.com website, but will keep hold of the name indefinitely.
It has launched a direct marketing and print advertising campaign, featuring the tagline "search performance", to tell its target audiences - advertisers, affiliates and investors - about the change.
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