homepage Welcome to WebmasterWorld Guest from 54.211.97.242
register, free tools, login, search, pro membership, help, library, announcements, recent posts, open posts,
Pubcon Platinum Sponsor 2014
Home / Forums Index / Microsoft / Microsoft Corporate
Forum Library, Charter, Moderators: bill

Microsoft Corporate Forum

    
Microsoft's unit Fast Search & Transfer Faces Police Investigation
engine

WebmasterWorld Administrator engine us a WebmasterWorld Top Contributor of All Time 10+ Year Member Top Contributors Of The Month Best Post Of The Month



 
Msg#: 3663053 posted 6:05 pm on May 30, 2008 (gmt 0)

Microsoft Corp.'s search-technology unit Fast Search & Transfer is facing a police investigation in Norway concerning possible financial-accounting irregularities.
Microsoft's unit Fast Search & Transfer Faces Police Investigation [online.wsj.com]

 

Receptional Andy



 
Msg#: 3663053 posted 9:03 pm on Jun 2, 2008 (gmt 0)

Raises some question marks over the value of the $1.2 billion purchase [webmasterworld.com], especially considering that was only in January this year.

bill

WebmasterWorld Administrator bill us a WebmasterWorld Top Contributor of All Time 10+ Year Member Best Post Of The Month



 
Msg#: 3663053 posted 1:05 am on Jun 3, 2008 (gmt 0)

I haven't read enough on this one to know much, but I'm with Andy. Looking at that original article it shows that people were aware of the accounting discrepancies even before the purchase. Curious to say the least.

incrediBILL

WebmasterWorld Administrator incredibill us a WebmasterWorld Top Contributor of All Time 5+ Year Member Top Contributors Of The Month



 
Msg#: 3663053 posted 9:34 pm on Jul 9, 2008 (gmt 0)

Here's more details about the Fast [webguild.org] one pulled on Microsoft.

Fast had booked $50 million in fake revenue, $20 million in fictional contracts, a company director purchased an unprofitable company called Hercules Communications and sold it to Fast for $6 million. The company’s executives siphoned millions from the company to luxury homes and fancy cars (see below - Former President in a Audi R8) and worst Microsoft was aware of all this prior to the purchase.

[edited by: incrediBILL at 9:35 pm (utc) on July 9, 2008]

bill

WebmasterWorld Administrator bill us a WebmasterWorld Top Contributor of All Time 10+ Year Member Best Post Of The Month



 
Msg#: 3663053 posted 12:32 am on Jul 10, 2008 (gmt 0)

That's had me scratching my head the whole time. You really have to wonder just how much of this they knew, and how much of it is new information. You'd think that this sort of stuff would come up during due diligence unless Fast was covering it all up.

The people who wrote that article don't think much of MS's purchases of aQuantive or Powerset either.

Global Options:
 top home search open messages active posts  
 

Home / Forums Index / Microsoft / Microsoft Corporate
rss feed

All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Home ¦ Free Tools ¦ Terms of Service ¦ Privacy Policy ¦ Report Problem ¦ About ¦ Library ¦ Newsletter
WebmasterWorld is a Developer Shed Community owned by Jim Boykin.
© Webmaster World 1996-2014 all rights reserved