Software giant offers to buy enterprise search provider Fast Search & Transfer for $1.2 billion.
LONDON (CNNMoney.com) -- Microsoft Corp. said Tuesday it will offer to buy Norwegian enterprise search firm Fast Search & Transfer.
The deal values the Oslo-based company at about $1.2 billion (6.6 billion Norwegian kroner).
Microsoft (MSFT, Fortune 500) will offer 19 Norwegian kroner a share, which represents a 42 percent premium to the Jan. 4 closing share price of Fast Search & Transfer.
Fast Search's board has recommended its shareholders accept the offer. The deal is expected to close in the second quarter.
Tuesday, January 8, 2008
Microsoft to buy Norwegian search firm
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