Microsoft completes purchase of Vicinity
SeattlePI | at | by Mike
Microsoft has completed the acquisition of Vicinity Corp., a Sunnyvale, Calif., provider of location-based technology, in a cash merger valued at about $96 million. Vicinity shareholders voted Dec. 10 to approve the transaction, clearing the way for the change of ownership. The shareholder vote followed a favorable regulatory review.
Vicinity's business will be merged with Microsoft's MapPoint business unit, the companies said. The resulting team will focus on incorporating location-oriented services into programs and services. Such services can allow a cell phone to identify the caller's location or to display a map showing that location.