Microsoft (NASDAQ: MSFT) has acquire the LiveLoop, a San Francisco-based start-up that has developed a plugin for the Office PowerPoint users to collaborate on the files and presentations. Redmond giant has acquired this start-up for an amount that is yet to be disclosed.
LiveLoop on its website stated that, “LiveLoop will be shutting down permanently on April 24th, 2015. New user registration and presentation upload have been disabled. Existing LiveLoop users: if you have any data you would like to retrieve from LiveLoop, please do so before April 24th. On April 24th, all presentations and user data will be permanently deleted.”
All user data is going to deleted from the company’s servers, and new user registrations have been brought to halt forever. LiveLoop is shutting down and will be joining the Microsoft team for any further development, apparently, LiveLoop has come to an end.
Probably, the deal was of few hundred million dollars, which Microsoft is going to use for improving the existing infrastructure of its Office suite. We can expect Microsoft to add new features to the existing subscription-based Office service that allows the users to share their files online.
It allows the users to upload the file, and it automatically reaches out to every other device that is connected with that Office account. It also helps in collaborating with other users in the network, by sending them the file you can ask them to edit, or share further but with a full control.
“Microsoft is excited to welcome the talented team from LiveLoop to help build great collaboration across Office applications, as part of our strategy and vision to reinvent productivity,” Microsoft said.
The exact amount of the acquisition is yet to be announced by the company, however, if we look on the other side, Microsoft (NASDAQ: MSFT) has fallen down a bit to 40.97 per piece, with total capital of 336 Bn.