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Microsoft Completes Acquisition of Vicinity Corp. | |
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| Time: 10:35 EST/15:35 GMT | News Source: Microsoft Press Release | Posted By: Byron Hinson | ||
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Microsoft Corp. today announced it has completed the acquisition of Vicinity Corp., a leading provider of location-based technology and solutions, in a cash merger valued at approximately $96 million. Vicinity shareholders voted to approve the transaction on Dec. 10, clearing the way for the change of ownership. The shareholder vote followed a favorable regulatory review. Under the terms of the acquisition, originally announced on Oct. 22, Vicinity's business will be merged with the Microsoft® MapPoint® Business Unit. The resulting team will focus on delivering the benefits of "location intelligence" in a wide range of enterprise and consumer applications and services. | ||
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