Microsoft buys search outfit

MICROSOFT is ready to stump up some $1.2 billion to acquire Fast Search and Transfer, a Norway-based provider of enterprise search technology.

Fast Search and Transfer's board of directors apparently rubbed their hands with glee and unanimously recommended that shareholders accept the offer.

According to Jeff Raikes, president of the Microsoft Business Division, " Enterprise search is becoming an indispensable tool to businesses of all sizes, helping people to find, use and share critical business information quickly."

The offer will be subject to the customary terms and conditions, including receipt of acceptances representing more than 90 per cent of Fast Search and Transfer's shares and voting power on a fully diluted basis, and receipt of all necessary regulatory approvals on terms acceptable to the Vole. µ