Biting the hand that feeds IT
Biting the hand that feeds IT
|
|
Original URL: http://www.theregister.co.uk/2008/01/08/microsoft_to_acquire_fast/
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, (http://www.microsoft.com/presspass/press/2008/jan08/01-08FastSearchPR.mspx?rss_fdn=Press%20Releases) or Fast is here. (http://www.fast.no/) ®
Gates pumps up Office, slaps down Yahoo! (12 February 2008)
http://www.theregister.co.uk/2008/02/12/gates_office_yahoo/
Microsoft signs MOU with Siberia (27 November 2007)
http://www.theregister.co.uk/2007/11/27/microsoft_siberia_data_centre/
Microsoft calls in the builders for Dublin data centre (7 November 2007)
http://www.theregister.co.uk/2007/11/07/microsoft_dublin_data_centre/
Microsoft Search Server 2008 takes on Google Mini, promotes SharePoint (6 November 2007)
http://www.theregister.co.uk/2007/11/06/microsoft_search_server_2008/
Microsoft punts web-based apps to the masses (1 October 2007)
http://www.theregister.co.uk/2007/10/01/microsoft_web_office_apps/
Super-fast RDF search engine developed (4 May 2007)
http://www.theregister.co.uk/2007/05/04/semantic_web_breakthrough/
Autonomy coughs up $500m for Verity (4 November 2005)
http://www.theregister.co.uk/2005/11/04/autonomy_verity/
Google can take the web, yawn readers (18 May 2005)
http://www.theregister.co.uk/2005/05/18/google_domination_letters/
Overture buys FAST's web search biz (25 February 2003)
http://www.theregister.co.uk/2003/02/25/overture_buys_fasts_web_search/
Search firms upgrade relevance, bells, whistles (22 January 2003)
http://www.theregister.co.uk/2003/01/22/search_firms_upgrade_relevance_bells/
Fast advances advanced search (3 October 2002)
http://www.theregister.co.uk/2002/10/03/fast_advances_advanced_search/
Google gains mindshare with InfoSpace deal (9 September 2002)
http://www.theregister.co.uk/2002/09/09/google_gains_mindshare_with_infospace/
Fast Search claims Google's size crown (18 June 2002)
http://www.theregister.co.uk/2002/06/18/fast_search_claims_googles_size/
© Copyright 2008