Microsoft Acquires Multimap for $50 mil
DECEMBER 14, 2007. Microsoft Corp. has acquired online mapping service Multimap.com. Terms of the deal were not disclosed, but according to reports Microsoft paid $50 million for the technology company.
The acquisition gives Microsoft a powerful new location and mapping technology to complement existing offerings such as Virtual Earth, Live Search, Windows Live services, MSN and the aQuantive advertising platform, with future integration potential for a range of other Microsoft products and platforms. Terms of the deal were not disclosed.
"The addition of Multimap enhances Microsoft's position as a leading provider of mapping and location platform services," said Sharon Baylay, general manager of the Online Services Group at Microsoft. "This acquisition will play a significant role in the future growth of our search business and presents a huge opportunity to expand our platform business beyond the U.K. and globally. We are thrilled to welcome Multimap onboard."
One of the best-known online mapping companies worldwide, Multimap provides a publicly available personal mapping service at www.multimap.com, as well as a range of integrated business services.
"Partnering with Microsoft gives us a world of new opportunities to build our mapping services into new technologies and applications," said Jeff Kelisky, CEO of Multimap. "As one of the world's foremost technology brands, Microsoft is in a position to bring even more value to the Multimap service and give people everywhere new, exciting and fun ways to get from point A to point B."
Multimap will operate as a wholly owned subsidiary of Microsoft, as part of the Virtual Earth and Search teams in the Online Services Group. The acquisition is the latest in a series of moves as Microsoft seeks to expand its online services to deliver software, services, and premium content and applications to consumers and businesses.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and solutions that help people and businesses realize their full potential.
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