Microsoft To Buy E-Map Maker - InformationWeek

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Microsoft To Buy E-Map Maker

Microsoft said last week it plans to buy Vicinity, which makes software for transforming business data into maps, for $96 million in cash. The company will become part of Microsoft's MapPoint unit when the deal closes in March.

Vicinity's Location Server turns data about the location of a company's stores, branches, or offices into maps and driving directions that can be used on company Web sites and by call-center staff or sent to cellular phones.

Microsoft is paying a 33% premium over Vicinity shares' market price.

Founded in 1995, Vicinity has a staff of 120. The company reported a net loss of $27.3 million on sales of $20 million for its 2002 fiscal year ended June 30.

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