Microsoft is striving hard to get hold of some breathing space in intensely growing search engine market, currently being ruled by Google Inc., and in the same attempt, the software giant has acquired the European shopping website Greenfield Online Inc., for USD 486 million.
Greenfield runs several shopping websites, under the name Ciao, in Europe, and has remarkable reach to thousands of customers; hence, apparently the move will add a large number of shopping websites to Microsoft search portal that will assist the consumers in comparing prices and fetching product information.
Some recent surveys highlighted the downfall in Microsoft’s search business across various regions, and hence raised dire needs for revamping company’s search module.
Microsoft holds a meagre 2 percent and 9 percent market share in Europe and US respectively, and pooling intense efforts in increasing it to the respected levels, for instance, just a few weeks ago, the company embarked on user intent based search procedures, for making the search more purposeful and less time consuming.
The Greenfield stakeholders will get an impressive USD17.50 per share, Microsoft stated.