$96 million deal expected to be completed end of first-quarter 2003
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As part of its .Net services plan, Microsoft announced on Tuesday plans to acquire Vicinity for $96 million.
Vicinity, Sunnyvale, Calif., provides Web, wireless and speech-based, location-based services for customers including Kentucky Fried Chicken, Red Lobster, The Home Depot, Prudential and Airborne Express.
The deal is slated to be completed before the end of first-quarter 2003. At that time, the Vicinity enterprise location-based services will be integrated with Microsoft's own location-based service called MapPoint.Net, executives said.
Vicinity will be merged with the MapPoint Business Unit at Microsoft.