Microsoft Corp. (NASDAQ:MSFT) has acquired a new start-up company, LiveLoop that used to develop plugins for business products and the so-called start-up has developed a plugin for the PowerPoint. The Plugin allows the users to collaborate the document with their works, the various information regarding the acquisition are yet to be disclosed.
In LiveLoop website, the company was notifying all of its users about the acquisition done by Microsoft Corporation and in the meanwhile, the entire projects that are undergoing in LiveLoop are going to terminate permanently by the 24th of April. The user activities such as new registration and new uploads are permanently disabled on the website. The company notifies all of its users to backup all the information before the due date, else entire data will be erased permanently from their servers.
“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.”
The main reason behind this acquisition is that, the company has already ‘N’ number of users who are already using subscription-based services for Office 365. This becomes the key factor for the process and the service also allows the users to edit their documents, on different devices with a click, gives a top-notch idea for Microsoft to acquire the company.
One more reason is to integrate the patents from the LiveLoop and existing technologies present from the Company. In a while, Microsoft may integrate new algorithms with the existing technologies and may increase the reach of Office 365.
In the meanwhile, Microsoft said,
“Microsoft is excited to welcome the talented team from LiveLoop to help build greater collaboration across Office applications, as part of our strategy and vision to reinvent productivity.”
Still now, there are no sorts of financial information has not been released, analyst believe that, Microsoft may acquire the LiveLoop for few hundred million USD.
Notice on LiveLoop website:
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.
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