IDG News Service - Microsoft Corp. has offered to buy enterprise search software company Fast Search & Transfer ASA for 6.6 billion Norwegian kroner ($1.2 billion U.S.), it said Tuesday.
The acquisition will bring Microsoft powerful high-end search technologies to complement its enterprise infrastructure offering, the company said.
Microsoft's recent efforts in enterprise search have been aimed at the other end of the market. In November, it introduced two new low-end enterprise search products, Search Server 2008 and Search Server Express 2008, both based on its SharePoint Server 2007 business productivity platform. It is pitching Search Server 2008 as a cheap entry into enterprise search, while the Express version is free for single installations.
By integrating FAST's products with SharePoint and drawing on its own worldwide network of partners, Microsoft hopes to bring FAST's products to a wider audience, it said Tuesday.
It is also counting on FAST's Norwegian research team to bolster its research efforts in Europe. Microsoft has laboratories in Cambridge, England, and in Copenhagen.
The directors of FAST, based in Oslo, have recommended that shareholders accept the offer, which represents a premium of 42% over the company's share price at close of business on Friday. The companies expect the deal to close in the second quarter, subject to customary closing conditions, including the approval of the holders of at least 90% of FAST's shares.
FAST's rivals in the market for specialized enterprise search tools include Google Inc., with its Search Appliance; French search company Exalead; and Autonomy Corp., which recently acquired Meridio and Zantaz.
Representatives of FAST could not immediately be reached for comment.
- 15 Non-Certified IT Skills Growing in Demand
- How 19 Tech Titans Target Healthcare
- Twitter Suffering From Growing Pains (and Facebook Comparisons)
- Agile Comes to Data Integration
- Slideshow: 7 security mistakes people make with their mobile device
- iOS vs. Android: Which is more secure?
- 11 sure signs you've been hacked
- HP HAVEn: See the big picture in Big Data HP HAVEn is the industry's first comprehensive, scalable, open, and secure platform for Big Data. Enterprises are drowning in a sea of data...
- What Datapipe customers need to know about the new PCI DSS 3.0 compliance standard This handy quick reference outlines what PCI DSS 3.0 is, who needs to be compliant and how Alert Logic solutions address the new...
- The 12 PCI DSS 3.0 requirements addressed by Peer 1 Hosting This handy quick reference outlines the 12 PCI DSS 3.0 requirements, who needs to be compliant and how Alert Logic solutions address the...
- Defense Throughout the Vulnerability Life Cycle This whitepaper provides insight into how to leverage threat and log management technologies to protect your IT assets throughout their vulnerability life cycle.
- Meg Whitman presents Unlocking IT with Big Data During this Web Event you will hear Meg Whitman, President and CEO, HP discuss HAVEn - the #1 Big Data platform, as well...
- The New Way to Work Knowledge Vault This Knowledge Vault focuses on how, in today's increasingly virtual world, it's more important than ever to engage deeply with employees, suppliers, partners,... All NOSes and Server Software White Papers | Webcasts