Microsoft Buying Vicinity Corp.
Vicinity specializes in location-based application services and APIs for corporations who want to direct their customers to the nearest service outlet or store.Software giant Microsoft Corp. today announced plans to buy location-based services company Vicinity Corp. for $96 million. The companies plan to complete the transaction before the end of the first quarter of 2003, assuming a positive regulatory review and shareholder approval. At that point Vicinity will merge with Microsofts MapPoint unit, according to Microsoft officials in Redmond, Wash.
Vicinity, of Sunnyvale, Calif., has been peddling location-based services since 1995.