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Microsoft buys into business search market.
Microsoft buys into business search market
Laura Smith
Microsoft has announced its intention to buy Norwegian search software firm Fast Search and Transfer (Fast) in a deal valued at $1.2bn ([pounds sterling]600m).
The deal, which sent shares in the Oslo-based company soaring by 41% last month, will help the software giant expand into the business search market, building on corporate demand for its Windows and Office software.
Microsoft said the deal could be completed in the second quarter of this year. Fast's board unanimously backed the proposal, according to a statement released through the Oslo Stock Exchange.
John Lervik, CEO of Fast, said: "This acquisition gives Fast an exciting way to spread our cutting-edge search technologies and innovations to more and more organisations across the world. It validates Fast's momentum and leadership in enterprise search."
Fast is ...
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Source: HighBeam Research, Microsoft buys into business search market.