Feeds

Microsoft bids $1.23bn for Norwegian search firm

Wants to mine web with Fast buy

Build a business case: developing custom apps

Microsoft is to acquire Norwegian business search engine company Fast Search and Transfer for 6.6bn kroner ($1.23bn).

The software giant said it would pay 19 Norwegian kroner a share for the Oslo-based firm, which represents a 42 per cent premium to the closing share price on 4 January, the day before Microsoft stepped in with its bid.

Fast's board of directors and nearly half of its shareholders have already voted in favour of the buy-out and urged its remaining shareholders to accept Redmond's hefty offer.

In recent months Microsoft has beefed up its Web 2.0 intentions by investing in a number of data centres inside and outside the US as it clambers for a larger chunk of the Google search engine pie.

The Fast deal, which should be completed in the second quarter of 2008 subject to the usual regulatory approvals, will give the firm tailored internet search functions for corporate customers that include the likes of United Parcel Services and Deutsche Telekom AG.

Publicly-listed Fast said it welcomed the arrival of the Bill Gates jamboree, perhaps unsurprising given that in its last set of results the firm reported a third-quarter loss of $100m.

Microsoft press release, or Fast is here. ®

Maximizing your infrastructure through virtualization

More from The Register

next story
HIDDEN packet sniffer spy tech in MILLIONS of iPhones, iPads – expert
Don't panic though – Apple's backdoor is not wide open to all, guru tells us
Do YOU work at Microsoft? Um. Are you SURE about that?
Nokia and marketing types first to get the bullet, says report
Microsoft takes on Chromebook with low-cost Windows laptops
Redmond's chief salesman: We're taking 'hard' decisions
Cheer up, Nokia fans. It can start making mobes again in 18 months
The real winner of the Nokia sale is *drumroll* ... Nokia
EU dons gloves, pokes Google's deals with Android mobe makers
El Reg cops a squint at investigatory letters
Chrome browser has been DRAINING PC batteries for YEARS
Google is only now fixing ancient, energy-sapping bug
Big Blue Apple: IBM to sell iPads, iPhones to enterprises
iOS/2 gear loaded with apps for big biz ... uh oh BlackBerry
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.