Microsoft Buys Computer Map-Making Company
Nov. 02, 1994
REDMOND, Wash. (AP) _ Microsoft Corp. said it has acquired NextBase Ltd. of Britain, a maker of road-map and route-planning software, for an undisclosed amount.
NextBase produces Automap Road Atlas and Automap Pro, programs that help plan driving routes in the United States. NextBase also makes European map programs, as well as software to create customized maps. To date, it has sold about 400,000 copies of its products.
Microsoft said Tuesday it will incorporate NextBase's programs in its Microsoft Home brand, which includes software for children, entertainment, reference and home management.
Last month, Microsoft said it would acquire Intuit Inc., maker of the popular Quicken personal finance program, for $1.5 billion in stock.
Microsoft chairman Bill Gates told shareholders last week that the company will make more acquisitions this fiscal year, either by using some of its $3.6 billion in cash reserves or by issuing new stock.
Microsoft said it will continue selling Nextbase's current Automap program for about $50 through the end of the year, but may upgrade it in 1995.