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
5 radical technologies that will change how you get to work From Uber's flying cars to the Hyperloop, these are some of the neatest transportation concepts in the works today. More
Royal wedding: How much will it cost? Meghan Markle's wedding to Prince Harry could cost millions once security is included in the bill. See how the costs break down. More
Robot co-workers? 7 cool technologies changing the way we work Experts believe humans and machines will work much more closely together. More
Sponsors