Microsoft buys FAST for $1.2 B

Microsoft buys the financially/legally troubled FAST (FAst Search and Transfer - recursive acronym ?) for their Enterprise Search Platform (ESP). FAST is a Norwegian-based company founded in 1999, and is traded on the Oslo Stock Exchange. ESP includes a software framework for efficient indexing of searchable content, along with a series of search-derivative applications (SDAs) that could be used for online publishing and business intelligence.

It certainly is a good move for Microsoft. At last they realize that they are not good at search and cannot compete with the likes of Yahoo! and Google, and decide to indulge in a buyout strategy. They're paying 42% above the closing price a couple of days back when they placed the bid. The deal is expected to close in Q2 this year.

It's a pity that, they still do not even own the domain http://www.fast.com yet, as when I tried to look it up, it currently redirected to the website of another communications provider called PAETEC.