Microsoft Corp. Acquires Visio
The company will become the Visio Division within Microsoft's Business Productivity Group, under the leadership of Vice President Bob Muglia. The division's offices will still be in Seattle.
"Together, Microsoft and Visio will bring visualization and diagramming software to a broader range of customers while improving the ways knowledge workers can present their ideas," said Muglia.
Jeremy Jaech, president and CEO of Visio Corp., will run the Visio division and report to Muglia. Visio shareholders will receive 0.45 shares of Microsoft common stock in exchange for each share of Visio common stock owned at today's market close (1 pm EST). Partial shares will be paid in cash based on a Microsoft Average Closing Price of $104.71.
The merger will be accounted for as a "pooling of interests."
Edited by Andrea King