Microsoft search firm raided by Norwegian police
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Norwegian search firm FAST, acquired by Microsoft in January, has been raided by police over suspicion of accountancy fraud
FAST, the enterprise search technology vendor acquired by Microsoft earlier this year, was raided last week by Norwegian police and charged with accountancy fraud.
The Norwegian police economic crimes unit was called in after
Police attorney Baard Thorsen said the charge related to accounts before Microsoft purchased the company for $1.2 billion in February. "We think FAST recognised revenues that there is no basis for,” Thorsen told Reuters.
A Microsoft spokeswoman said both companies were “cooperating fully” with Norwegian police, later adding “since completing our acquisition in April 2008, Microsoft has taken ongoing steps to align FAST's financial reporting and controls to Microsoft’s high standards.”
In an ironic twist, FAST customers include both the Norwegian police and the country’s Ministry of Justice.
Further reading
Microsoft acquires FAST Software giant has agreed to acquire Norwegian search firm FAST for US$1.2 billion
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