Microsoft bids for Norwegian search company

Norwegian search company Fast Search & Transfer ASA has built a successful search business entirely outside of the consumer spotlight by providing enterprise search solutions that let companies find, store, and manage information from their own networks and from the Internet. Now Microsoft has offered to buy that business for $1.2 billion, with a $2.97 per share bid that represents a 42 percent premium over the company’s January 4 closing price.

“Enterprise search is becoming an indispensable tool to businesses of all sizes, helping people find, use and share critical business information quickly,” said Jeff Raikes, president of the Microsoft Business Division. “Until now organizations have been forced to choose between powerful, high-end search technologies or more mainstream, infrastructure solutions. The combination of Microsoft and FAST gives customers a new choice: a single vendor with solutions that span the full range of customer needs.” (link)

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