Microsoft Announces Intention to Acquire Vicinity
Microsoft will fold Vicinity into the MapPoint Business Unit in a deal valued at $96 million - a 33% to 49% premium to Vicinity's recent market valuations. The merger is expected to be completed before March 2003.
It could be speculated that Microsoft will encourage Vicinity customers to migrate to the MapPoint .NET platform although both companies expect an integration road map that helps assure customers of a seamless transition.
Read the full press release on Directions Magazine.