Microsoft to buy Norwegian search firm

Software giant offers to buy enterprise search provider Fast Search & Transfer for $1.2 billion.

Subscribe to Technology
google my aol my msn my yahoo! netvibes
Paste this link into your favorite RSS desktop reader
See all CNNMoney.com RSS FEEDS (close)

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. To top of page

Photo Galleries
What being middle class means to me For some Americans, middle class means feeling secure. For others, it's just the opposite. More
The 10 most valuable global brands Apple has the most valuable brand in the world, up 67% over the last year, according to a BrandZ ranking. More
A life's work: Photos by Mary Ellen Mark The subjects of Mary Ellen Mark's photography ranged from celebrities to world leaders to those at the fringe of society, including prostitutes and the homeless. More
Sponsors