Attempting to beef up its ecommerce offerings, Microsoft acquired Greenfield Online, owners of the shopping engine, Ciao. Back in June, Greenfield Online announced that it was being acquired by Quadrangle Group, a private equity firm, for $426mm. Microsoft made a better offer of $486mm and Greenfield therefore terminated its agreement with Quadrangle. According to the company statement, Microsoft will sell off Greenfield’s survey business, so this is all about comparison shopping in Europe. First Cashback (US), now Ciao (Europe)…what’s next?
More info at Paid Content.