Microsoft Finds Buyer For Greenfield Online's Survey Solutions Unit
This story was written by David Kaplan.
Less than a month after acquiring market researcher Greenfield Online, Microsoft (NSDQ: MSFT) will sell off the company's internet survey solutions unit to an affiliate of PE firm ZM Capital, AP reported. Terms weren't disclosed. Microsoft bought Greenfield Online just before Labor Day for $486 million, a few days after the research company rebuffed an offer from Quadrangle Partners.
The sell-off of Greenfield Online's survey solutions unit was expected from the outset. The unit will operate under the PE firm's ZM Surveys division, which plans to maintain it as a separate, privately held company. The deal is subject to a "financing contingency," though the completion of Microsoft's purchase of Greenfield Online is not predicated on the sell-off of the survey solutions unit. Both deals are expected to close during Q4.
By David Kaplan