Microsoft To Buy Greenfield Online For $486 Million

Microsoft intends to buy Greenfield Online to further expand the Search and e-commerce activities in Europe ..

…Microsoft Corp. on Friday said it will buy Web-based survey company Greenfield Online Inc. for about $486 million in cash in a move that will bolster its search and e-commerce services in Europe.

Microsoft (MSFT) will pay $17.50 a share for Greenfield (SRVY). The deal tops an earlier proposal by buyout firm Quadrangle Group to acquire the company for $ 15.50 per share.

The Microsoft offer represents a premium of about 10% to the closing price of Greenfield shares on Aug. 25, the day before it said it had received a $17.50 acquisition offer without disclosing its origin.

The deal, Microsoft's first since it failed to acquire Yahoo Inc (YHOO), will give the software giant access to Ciao.com, Greenfield's popular price comparison and consumer reviews site in Europe.

"Acquiring one of Europe's leading price comparison, shopping and consumer reviews site will further extend Microsoft's search and e-commerce services in Europe," said Tami Reller, chief financial officer for Windows and Online services at Microsoft. …

Source:CNN Money