Microsoft buys for $486 million

After disappointment of the $49 billion yahoo auction, Microsoft has bought for $486 million to boost its Internet search and e-commerce in Europe.
Ciao is know for online surveys. Ciao will take online surveys from customers and sell it's result to the online researchers. Ciao has built its customer community based on intuitive technology as well as extensive merchant relationships.
Microsoft thinks that this acqasition can benifit its Live Search platform. Internet search is dominated by google with a stake of 62% in global search market and in Europe with 79%. But Microsoft has 2% stake in European market and 9% around the world.
Ciao is offering advice on purchases mainly in consumer electronics and encourages users to join a network of shopping experts to share opinions. It makes its revenues from merchant referrals ,e-commerce and advertising sales.
Microsoft has offered $17.50 per share.

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