Microsoft Corporation acquires Groove Networks Inc.

Microsoft Corporation acquired Groove Networks Inc., a transaction announced in March 2005, structured as Acquisition (terms not disclosed); expected to close Q2 2005.

Groove Networks Inc. operates in Information Worker Group, is based in United States (Beverly, Massachusetts). Groove Networks, based in Beverly, Massachusetts and founded by Lotus Notes creator Ray Ozzie, made peer-to-peer collaboration software for the virtual office, letting distributed teams work together as if co-located. Microsoft acquired it to add peer-to-peer collaboration to its Information Worker offerings; Ozzie became a Microsoft CTO.

Add peer-to-peer collaboration for borderless project teams spanning employees, partners and contractors, and bring in Ray Ozzie's team.

Ray and his team are true innovators. Microsoft and its customers will greatly benefit from their experience.Bill Gates, Founder, Chairman and Chief Software Architect, Microsoft

Advisory firms were not disclosed for this transaction.

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