RealTime IT News

Microsoft Bids For Sendit

Swedish mobile Internet technology provider Sendit AB Wednesday recommended that its shareholders accept an offer from Microsoft Corp. for SEC 325 crowns (US$39) per share.

The bid values Sendit's worth at SEC 1.07 billion(US$130 million).

Shareholders controlling 42.9 percent of the company have already accepted the offer. Sendit's board of directors evaluated the bid as an "attractive" offer and unanimously asked all shareholders to accept the bid.

Sendit provides mobile Internet application server solutions to GSM operators through its Internet Cellular Smart Access (ICSA) server.