Internet8.01.2008
Microsoft in Fast Search bid
Microsoft in a statement said the board of directors at Fast Search had "unanimously recommended that its sharehaolders accept the offer," which should be completed in the second quarter of this year.
It added that the proposal represented a 42 percent premium to Fast Search's closing share price in January 4 and valued the company at 6.6 million Norwegian kroner.
"Enterprise search is becoming an indispensable tool to businesses of all sizes, helping people find, use and share critical business information quickly," said Jeff Raikes, head of the Microsoft Business Division.
Fast Search and Transfer was established in 1997 and currently operates in Europe, the United States, Asia, Australia and the Middle East, according to Microsoft.
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