Microsoft buys Ciao.com owner for $486 million
By Saumyadeb Chakrabarty, Reuters,
Microsoft has announced a surprise deal to acquire online survey and price comparison company Greenfield Online for about $486 million (£270 million).
The deal also includes the Ciao.com, the popular European price comparison and consumer reviews site.
Microsoft’s $17.50 (£9.72) per share bid betters an earlier offer from media-focused buyout firm Quadrangle to acquire the company. Greenfield said it would pay Quadrangle $5 million (£2.77 million) as a termination fee.
Microsoft said it will sell off Greenfield’s main business - internet surveys and market research which the company sells to companies for marketing purposes. This business accounts for about 75 per cent of the company's overall revenue.
Microsoft and Greenfield expect both deals to close during the fourth quarter of 2008.
Related Tags
advertisement
Latest Internet Features
Web helps Wiggly Wigglers win big
Dell's award-winning SMB offers some advice on social networking, and explains why being a digital native is overrated.
- Netbooks vs. Smartphones: Making business mobile
- How to be a successful online fraudster
- Q&A: DNS inventor Paul Mockapetris
- Q&A: Cuil co-founder Tom Costello
- What does Internet Explorer 8 mean for you?
- Blogging for business
- Social networking in business and branding
- Internet search secrets
- Big IT for CERN's particle smashing experiment
Latest Internet Reviews
HTC Touch HD
Rating: 
advertisement
Latest News Videos in Internet
Video: Q&A with Easynet Connect's Chris Stening
PlayIT PRO spoke to Chris Stening, managing director of Easynet’s SME division, about whether ISPs are giving businesses the service they deserve.
White papers
Want more background on today's hottest IT trends?
Visit IT PRO's white paper library for more on virtualisation, encryption and other topics.
Register for IT PRO
You'll get exclusive member benefits including free white papers, downloads, Webinars and weekly newsletters full of the latest IT PRO news, reviews, insight and expertise.
Social Bookmark this article: What is this?