Microsoft Acquires Fast Search & Transfer for $1.2 Billion

Microsoft announced a $1.2 billion bid to acquire Fast Search & Transfer, a Norwegian enterprise search company, driven primarily by the SharePoint team's need to compete with Google and IBM in high-end enterprise search capabilities. The acquisition valued Fast at approximately 8x revenue run-rate and 19 kroner per share, representing a recovery to recent pre-scandal valuation peaks. The deal provided a practical solution to Fast's leadership and governance challenges following previous accounting scandals.