Microsoft has made an offer to acquire enterprise search company Fast Search & Transfer.
Norway based Fast Search and Transfer offers enterprise search to over 3500 companies, including many in the Fortune 500. Fast solutions cover areas including Corporate Operations, eCommerce, Information Management, Market Management, Mobile, Online Media, OEM Search Integration, Risk Management and Surveillance and Enforcement.
Microsoft has offered 19.00 Norwegian Kroner ($3.56) per share. The offer represents a 42 percent premium to the closing share price for Fast as at January 4 and values FAST at 6.6 billion NOK ($1.2 billion U.S).
Fast’s board of directors has unanimously recommended that its shareholders accept the offer. In addition, shareholders representing 35 percent of the outstanding shares have irrevocably undertaken to accept the offer.
(via Forbes/ PR Newswire)