Microsoft to sell Greenfield Online division

By Associated Press
September 10, 2008 | Comments (0)

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Software maker Microsoft Corp. said Wednesday it will sell Greenfield Online Inc.'s Internet survey solutions division to a ZM Capital LP affiliate.

Financial terms were not disclosed.

In August Microsoft said it would buy Greenfield Online, which owns Ciao, a collection of European price-comparison, shopping and consumer reviews sites in seven countries and languages, for $486 million in cash.

Private equity firm ZM Capital said its ZM Surveys LLC plans to keep the Greenfield unit as a separate, privately held company.

ZM's acquisition is subject to a financing contingency. Microsoft's Greenfield Online purchase is not contingent on the ZM acquisition's closing. Microsoft's Greenfield Online buyout and ZM's acquisition are both expected to close in the fourth quarter.

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