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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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