Microsoft to buy Groove Networks

Posted on Friday, March 11 2005 @ 0:36 CET by Thomas De Maesschalck
Microsoft announced it plans to acquire Groove Networks. Groove was found in 1997 and develops p2p software allowing ad hoc workgroups to cooperate seamlessly in realtime.

The company will continue to run at its present location and its CEO and founder Ray Ozzie will become chief technical officer of Microsoft.
Groove's software complements Microsoft's SharePoint Services and SharePoint Portal Server. Groove has worked closely with Microsoft on its collaboration technologies since its founding. In October, Microsoft invested $51 million in Groove, acquiring a 20 percent stake in the ISV. Redmond, Wash.-based Microsoft later was part of $38 million investment in Groove after the company had layoffs and a restructuring. Overall, Groove has received $155 million in financing since its founding.
More info at InformationWeek

About the Author

Thomas De Maesschalck

Thomas has been messing with computer since early childhood and firmly believes the Internet is the best thing since sliced bread. Enjoys playing with new tech, is fascinated by science, and passionate about financial markets. When not behind a computer, he can be found with running shoes on or lifting heavy weights in the weight room.

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