|Wednesday, September 15, 1999||< Prev||Next >|
Microsoft Corp. has agreed to acquire Seattle-based Visio Corp. for about $1.3 billion in stock. Visio, the leading supplier of enterprise-wide business diagramming and technical drawing software, will become a division within Microsoft's Business Productivity Group led by Microsoft senior vice president Bob Muglia. Visio president and CEO Jeremy Jaech will lead the new Visio division as a Microsoft vice president. Visio shares closed at $33.50 yesterday but following this morning's announcement jumped 20 percent to $41, still off the 52-week high of $43.50.
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