Microsoft Bids for FAST

In a recent press release Microsoft has announced an offer to acquire Fast Search and Transfer, FAST. At Findwise we are of course excited about this, as it clearly shows how the world’s leading software vendor has understood the importance of search to the modern enterprise. We are also convinced that the result will be an excellent merger between technical as well as market knowledge of both parties. Since Findwise has a close partnership with Fast and Microsoft you can be sure that we will continue to deliver cutting edge solutions in the future.

An excerpt from the pressrelease:

“Microsoft Corp. (Nasdaq “MSFT”) today announced that it will make an offer to acquire Fast Search & Transfer ASA (OSE: “FAST”), a leading provider of enterprise search solutions, through a cash tender offer for 19.00 Norwegian kroner (NOK) per share…” “… FAST’s board of directors has unanimously recommended that its shareholders accept the offer. In addition, shareholders representing in aggregate 37 percent of the outstanding shares, including FAST’s two largest institutional shareholders, Orkla ASA and Hermes Focus Asset Management Europe, have irrevocably undertaken to accept the offer. The transaction is expected to be completed in the second quarter of calendar year 2008.”

Microsoft pressrelease
Article in reuters