In a recent report, Microsoft (NASDAQ: MSFT) announced the acquisition of LiveLoop, a San Francisco-based start-up that has developed a plugin for the Powerpoint which allows the users to collaborate and work together on documents. LiveLoop is now completely shutting down and joining the Microsoft for further development.
There are no financial details about the acquisition, however, analysts believe that the deal is probably of few hundred million dollars and is an all-cash deal. It is unclear whether Redmond giant will be hiring all of the existing LiveLoop employees or not.
LiveLoop posted a notice on their website stating, “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.”
This clearly describes that the company is going to shut down permanently and will join the Microsoft to work more on it. All the users now are requested to download and backup their existing files and presentations before LiveLoop vanishes them from the servers.
On the flip side, Microsoft said, “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 is already providing such features in its subscription-based services that allows the Office users to access files and documents on the several devices. It allows the users to collaborate with other users in the network and share the files with a full control over its visibility.
Microsoft is probably going to use this acquisition to add more functionalities and improvements in the existing infrastructure. Not anytime soon, but hopefully in the future releases we might see some major changes in the Office suite.