|Thursday, January 6, 2000||< Prev||Next >|
WASHINGTON - Microsoft's $1.26 billion purchase of Visio, a Seattle-based developer of design and drawing software, received Justice Department antitrust clearance, Visio said today.
Microsoft's purchase of Visio, announced in September, is the largest acquisition by the world's biggest software maker. In October, the Justice Department had requested more information about the deal.
Visio stock closed up $3.188 to $49.625.
Visio said it has more than 3.5 million users. Redmond-based Microsoft said it hopes Visio will boost its product line, which it plans to rent over the Internet to compete with Sun Microsystems.
Microsoft is facing an unrelated antitrust case filed by the Justice Department over its dominance of the market for operating software that runs PCs. A federal judge ruled in November that Microsoft has abused its monopoly power in the computer-operating-system market to crush competition and stifle innovation. Microsoft has denied anti-competitive practices. The judge has appointed a mediator to encourage a settlement.
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