Ref: http://news.zdnet.com/Ex-Groove+exec+loses+initial+bid+to+nix+Microsoft+deal/2100-3513_22-5650797.html?part=rss&tag=feed&subj=zdnn
No need to read too deeply into this quotation...
"We look forward to adding Groove technologies to the line-up of Microsoft Office system servers, applications and services following the close of the acquisition."
From: http://boston.bizjournals.com/boston/stories/2005/03/28/daily60.html
Microsoft's $120M Groove buyout challenged in suit
Boston Business Journal
Microsoft Corp.'s $120 million cash offer to buy Groove Networks Inc., owned by Lotus Notes creator Ray Ozzie, ignores some employees who hold preferred and common stock, a former Groove worker said in a lawsuit, Bloomberg Business News reported.
Microsoft (NASDAQ: MSFT) announced it would acquire Beverly-based Groove and hire Ozzie as chief technical officer, according to a March 1 statement. He would report to Microsoft founder Bill Gates.
Former Groove employee Michael Matthews claimed Microsoft and Ozzie, who together hold 59 percent of Groove's stock, "seek to eliminate the interest of junior preferred and common stockholders for no consideration" in the $120 million deal, according to a lawsuit filed March 25 in Delaware Chancery Court.
The lawsuit could temporarily block the deal. Microsoft, the world's largest maker of software, wants to use Groove products to supplement its Office business applications. The combination will help computer users in different locations work on documents together over the Internet, Microsoft said.
Matthews sued closely-held Groove and its directors, including Ozzie. He asked Judge William B. Chandler III to stop the buyout under the present terms and award damages and legal fees. Groove lawyers asked Chandler to keep details of the transaction confidential, but he denied the request.
The suit claims the buyout is also unfair because insiders will get $50 million in "golden parachute" payments and other benefits, including $27 million in stock grants for Ozzie.