Microsoft Corporation acquires Vicinity

Microsoft Corporation acquired Vicinity for ~$96M, a transaction completed in December 2002, structured as All-cash acquisition at $3.33 per share (~$96 million); completed December 12, 2002.

Vicinity operates in MapPoint Business Unit, is based in United States (Sunnyvale, California). Vicinity Corporation, based in Sunnyvale, California, provided location-based technology that let businesses and governments market local product and service availability across Web, wireless and speech platforms. Microsoft acquired it to strengthen its MapPoint .NET location-services platform.

Enhance the MapPoint .NET platform with end-to-end location-based services for enterprise and consumer applications.

Our combined strengths will put us in a better position to deliver the benefits of location in the widest range of enterprise and consumer applications.Ted Johnson, Corporate Vice President, Microsoft

Advisory firms were not disclosed for this transaction.

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