Microsoft in Greenfield Online $486M buyout deal

Microsoft has announced that they have agreed a buyout deal for GreenField Online, in a deal that is worth $486M. It is hoped that the deal will help to bolster the software giants search and e-commerce business in Europe.

This new deal tops an earlier proposal from buyout firm Quadrangle Group, where they wanted to purchase the company for $15.50 per share. This is Microsoft’s first deal since their failed attempt to buy Yahoo.

GreenField Online was to attractive for Microsoft to let the deal slip through it’s fingers, GreenField’s popular price comparison and consumer reviews site in Europe is something that Microsoft wants a piece of.

It is thought that the completion of the deal will be in the fourth quarter, GreenField will have to pay a termination fee of $5 million to Quadrangle.

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