In a recent report, Microsoft acquired the LiveLoop, a startup that developed a plugin for the Powerpoint for the users to collaborate and work together on a document. However, the financial details are yet to be disclosed.
Microsoft acquired the LiveLoop for an unknown amount with company’s website notifying its users about the acquisition. LiveLoop stated that they are completely shutting down the entire project permanently on 24th April, and new uploads and user registrations have been disabled forever. The start-up also asked the users to take away their existing data before 24th April, otherwise, it will be deleted from their servers.
LiveLoop stated, “LiveLoop will be shutting down permanently on April 24th, 2015. New user registration and presentation upload have been disabled. Existing LiveLoop users: if you have any data you would like to retrieve from LiveLoop, please do so before April 24th. On April 24th, all presentations and user data will be permanently deleted.”
“Microsoft is excited to welcome the talented team from LiveLoop to help build great collaboration across Office applications, as part of our strategy and vision to reinvent productivity,” Microsoft said.
There are two probable reasons for which company acquired this start-up, first that the company already has the subscription-based service that allows users to collaborate and share the documents online via the Office 365 suite. It allows users to edit the files on the go, on different devices and among different users. Redmond giant is probably killing the competition on its own platform.
Another probable reason is that the company wants to integrate the existing technologies and the patents from the LiveLoop. Not anytime soon, but Microsoft is expected to implement new algorithms, which have been developed by the LiveLoop.
There have been no financial reports on the acquisition, however, analysts believe that the Redmond giant has acquired this San Francisco-based startup for few hundred million dollars in cash.
There are no comments on whether Microsoft will be keeping all LiveLoop employees with them or not.Tags: LiveLoop, Microsoft, Redmond