As reported in Channel Web: "Microsoft (NSDQ:MSFT) has offered to acquire Fast Search & Transfer, a Norwegian developer of enterprise search technology, for approximately $1.2 billion, Microsoft announced Tuesday. The acquisition would help Microsoft expand the information search and business intelligence capabilities of Microsoft SharePoint Server and other products."
Well, Sharepoint could sure use the help. I would not want to be one of the many third parties that developed search tools to support this weakness in Sharepoint. It is also a big stake (at least it is a lot of money to me) to place in the search area. To be clear, I think enterprise search is one of the key areas and no stake is too big, I was just referring to the pocket books of these firms. I should figure out something to sell them. I wonder what Google thinks? What will be their counter move?
The news goes on to say: "Fast Search & Transfer's two largest institutional shareholders that own 37 percent of the company's outstanding stock have accepted Microsoft's cash offer of 19.00 Norwegian Kroner per share, according to Microsoft." Thanks a lot of kroner. The must really want Fast given the premium they paid with the weak dollar. It reverses the trends of non-US firms looking for bargins here.
This also shows the increasing importance of enterprise search. Fast sponsors the Fast Forward group blog on enterprise 2.0 that Corante runs and I contribute to. I should have asked for shares. Here are some thoughts on the pending purchase by my Fast Forward colleague, Rob Paterson.
Fast is also sponsoring the conference by the same name, Fast Forward 08 on the theme of the user revolution. This news should add some spice to the event. It will be on Feb 18-20 in Orlando and I look forward to it. Meanwhile, if you want your company to obtain similar sale prices, send me an email and I will write for your blog also.
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