Microsoft acquires Fast

 

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Posted on 8 Jan 2008 at 13:59

Microsoft has continued to bolster its search portfolio with the acquisition of Norwegian search company, FAST.

Microsoft has offered $1.2 billion to takeover the enterprise search company in a deal which is expected to close in the second quarter of this year, subject to shareholder approval.

Terms and conditions of the bid, in addition to other details, are expected to be sent to shareholders next week.

"Until now organisations have been forced to choose between powerful, high-end search technologies or more mainstream, infrastructure solutions," says Jeff Raikes, president of Microsoft's business division.

"The combination of Microsoft and Fast gives customers a new choice: a single vendor with solutions that span the full range of customer needs."

Concerns are occasionally raised when big players swallow up little guys, however, Fast says it is optimistic about taking advantage of what the software giant has to offer.

"This acquisition gives Fast an exciting way to spread our cutting-edge search technologies and innovations to more and more organisations across the world," says chief executive John Lervik.

"By joining Microsoft, we can benefit from the momentum behind the SharePoint business productivity platform to really empower a broader set of users through Microsoft's strong sales and marketing network. It validates Fast's momentum and leadership in enterprise search."

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Author: Maggie Holland