1/9/2008

Microsoft Agrees to Buy Fast Search for $1.23 Billion

Filed under: — By Aviran Mordo @ 12:37 am

Microsoft Corp. agreed to buy Norway’s Fast Search & Transfer ASA for 6.6 billion kroner ($1.23 billion) to add software products that help companies mine, store and manage data.

Microsoft, the world’s biggest software maker, will pay 19 kroner for each Fast Search share, the companies said today. The offer is 42 percent more than the closing price on Jan. 4.

The purchase of Oslo-based Fast Search will give Microsoft tailored search programs for customers such as Deutsche Telekom AG and United Parcel Service Inc. The features add to what the Redmond, Washington-based company offers in its Office SharePoint Server, which garnered more than $800 million in sales in the year ended June 30.

 

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