Our Terms of Service and Privacy Policy have changed.

By continuing to use this site, you are agreeing to the new Privacy Policy and Terms of Service.

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
14 last-minute tech gifts under $100 From wireless headphones and smart speakers to game consoles and unlimited movie tickets, here are the best bets under $100. More
8 cool things cars of the future will do The coolest features that tease the future of driving, from windshield projections to never needing to park again. More
The best gadget gifts for 2017 A holiday gift guide for anyone who wants to spread some techie joy. More
Sponsors