12th January 2008
Microsoft To Buy Fast Search For $1.23 Billion
Microsoft Agrees to Buy Fast Search for $1.23 Billion from Bloomberg reports that Microsoft is buying FAST Search. The Norwegian search company, Fast Search & Transfer ASA, will be bought by Microsoft for 6.6 billion kroner, or $1.23 billion. Microsoft will buy the company via the Oslo Stock Exchange, share by share. Here is the release from Microsoft.
FAST’s share price rose 41 percent to 18.8 kroner from the news. Jeff Raikes, president of the Microsoft Business Division, said:
Enterprise search is becoming an indispensable tool to businesses of all sizes, helping people find, use and share critical business information quickly.
