Microsoft Corp. will make an offer to acquire Fast Search & Transfer ASA, a  provider of enterprise search solutions, through a cash tender offer for 19.00 Norwegian kroner (NOK) per share, in an effort to bolster its search efforts. 

FAST’s board of directors has unanimously recommended that its shareholders accept the offer.

In addition, shareholders representing in aggregate 37 percent of the outstanding shares, including FAST’s two largest institutional shareholders, Orkla ASA and Hermes Focus Asset Management Europe, have irrevocably undertaken to accept the offer.

The transaction is expected to be completed in the second quarter of calendar year 2008.

In addition to bolstering Microsoft’s enterprise search efforts, this acquisition increases Microsoft’s research and development presence in Europe, complementing existing research teams in Cambridge, England and Copenhagen, Denmark, with new and significant capabilities in Norway, according to Microsoft’s press release.

– Posted by Giselle Abramovich