Microsoft announces $1.2 bn bid for Fast Search & Transfer
Microsoft has bid $1.2 billion to buy Norwegian business search software company Fast Search & Transfer. They have offered a 42 percent premium (to the closing share price as on 04-Jan-08) for Fast, the second-largest search provider that lets companies comb internal corporate documents, data and other information. Fast also sets up a search engine used by companies to help consumers navigate their Web site easier.
Fast said its board unanimously recommended that shareholders accept the Microsoft offer, which values the fully diluted equity of Fast at 6.6 billion Norwegian crowns, or about $1.2 billion. Shareholders with 37 percent of Fast’s stock, including its two biggest institutional investors, Norway’s Orkla and Hermes Focus Asset Management Europe, have agreed to accept the offer.
Facebook comments: