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  • fuckedgaijin ‹ General ‹ Tokyo Tech ‹ Computers & Internet

Duck Google, here comes Bill Gates

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Duck Google, here comes Bill Gates

Postby Greji » Thu Jan 10, 2008 1:04 pm

[SIZE="4"]Microsoft offers to buy FAST for $1.2 billion; Likely to trigger enterprise search consolidation[/SIZE]

Microsoft said Tuesday that it will offer $1.2 billion in cash for Fast Search and Transfer (FAST), a big player in the enterprise search market.

The move is sure to shake up the enterprise search market, which thus far has been dominated by a series of smaller players like FAST, Autonomy and Vivisimo. Google has made some inroads, but for the most part the market is the realm of niche players. Microsoft is about to change that with FAST. You can expect Google to make a purchase in enterprise search along with traditional enterprise players like HP, IBM and the usual suspects.

In a statement, Microsoft said its offer is a 42 percent premium to where FAST shares trade in Norway. FAST’s board of directors has recommended that shareholders take the offer and the company’s two largest shareholders–Orkla ASA and Hermes Focus Asset Management Europe–are on board with the deal. The transaction should be completed in the second quarter.

FAST counts Comcast, Disney, Microsoft, Pfizer, UBS and others as customers. In its most recent third quarter, FAST had revenue of $35.6 million, up 4 percent from the second quarter. Third quarter recurring revenue was up 65 percent from a year ago. Fiscal 2006 revenue topped $162 million, according to FAST’s annual report. The company is profitable and had $137.9 million in cash at the end of its third quarter.... more here...
"There are those that learn by reading. Then a few who learn by observation. The rest have to piss on an electric fence and find out for themselves!"- Will Rogers
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