Microsoft Buys Multimap for a Reported $50 Million
Other than improving its foothold in the UK (where Windows Live Maps is fifth), Microsoft is also gaining Multimap’s location-based search technology, which can come in handy as it pursues mobile mapping applications. Multimap will become part of Microsoft’s Virtual Earth and Search teams. Its local and geo-mapping technologies will complement Microsoft’s local-advertising efforts as well.
Multimap has been around for more than a decade. It is expected to show revenues of $25 million this year, and be slightly profitable. (It made $1.8 million in pre-tax profit in 2006).