Microsoft asked for more information about Visio acquisition.
Published:
3 November 1999 y., Wednesday
Microsoft Corp. said the U.S. Justice Department asked for more information about its planned $1.26 billion acquisition of Visio Corp. the largest-ever acquisition for the world_s biggest software maker. Microsoft and Visio, which makes diagramming software, both said they_ll supply the agency with the information. Seattle-based Visio and Microsoft, based in nearby Redmond, described the request as routine and said they expected their transaction to be completed by January. In September, Microsoft said it was acquiring Visio to boost its business software line, which it hopes to rent to users over the Internet as a way to thwart rival Sun Microsystems Inc. Many corporations use Visio software as their standard diagramming tool, to draw everything from simple organization charts to complex computer networks. Microsoft is swapping 0.45 share, or $41.65, for each Visio share, 5 percent more than Visio_s close of 39 19/32 on Friday. Microsoft closed at 92 9/16. Microsoft has been sued by the U.S. Justice Department and 19 states in a landmark antitrust case in which it_s accused of abusing its near-monopoly in computer-operating systems.
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