IAC Signs Google As Sponsored Search Provider; Deal Valued at $3.5 Billion

IAC (NSDQ: IACI) Chairman Barry Diller led off his press conference on the company’s five-way split with another bit of news: IAC has a new five-year deal with Google (NSDQ: GOOG) to provide its sponsored search at what Diller says is a value of at least $3.5 billion. The current deal was slated to expire at the end of this year. Diller said the deal “answers a lot of people’s questions” and “underscores” why the new IAC can stand on its own.