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Q: What was the total purchase price for ByteTaxi, maker of Foldershare? ( No Answer,   2 Comments )
Subject: What was the total purchase price for ByteTaxi, maker of Foldershare?
Category: Business and Money
Asked by: thechairman-ga
List Price: $50.00
Posted: 23 Oct 2006 23:06 PDT
Expires: 22 Nov 2006 22:06 PST
Question ID: 776296
ByteTaxi was purchased by Microsoft in November of 2005.  What was the
total purchase price paid by Microsoft.

Request for Question Clarification by rainbow-ga on 24 Oct 2006 04:33 PDT
Please let me know if this is what you are looking for:

ByteTaxi, Inc. Termination Agreement, Gain on Sale and Losses from
Discontinued Operations

"In the first quarter of 2005, we acquired a 10% ownership interest in
ByteTaxi, Inc., a start-up software development company, with an
option to purchase up to 29% of the company. Under the agreement, we
received exclusive license rights to certain products, including
ByteTaxi?s FolderShareTM software. Because we were the primary
beneficiary of ByteTaxi?s operations, we were required to consolidate
ByteTaxi?s operations under FASB Interpretation No. 46, ?Consolidation
of Variable Interest Entities? (?FIN 46?). While consolidated under
FIN 46, ByteTaxi, Inc. was reported under the CSS segment.

During the fourth quarter of 2005, we reached an agreement to sell our
investment in ByteTaxi, Inc. Specifically, on October 28, 2005,
Iomega, ByteTaxi, Inc., and certain major shareholders of ByteTaxi,
Inc. entered into a Termination Agreement, under which we would
receive a total of $2.9 million (payable as described below) in return
for the sale of our equity ownership of ByteTaxi, Inc. and termination
of our distribution rights to FolderShareTM software. This Agreement
was part of a larger series of transactions whereby Microsoft
Corporation purchased all of the stock of ByteTaxi, Inc. We received a
cash payment of $2.4 million on October 28, 2005 and the remaining
funds (approximately $0.5 million) are to be paid during the fourth
quarter of 2006, subject to the satisfaction of certain escrow and
indemnity terms." (page 34)

Looking forward to your clarification.


Clarification of Question by thechairman-ga on 24 Oct 2006 21:03 PDT
No, that's not what I'm looking for.  I had that information, which
indicates that iomega owned 10% of bytetaxi, but 100% of Foldershare,
bytetaxi's sole product.  The indication is that there was a "series
of transactions" by microsoft to buy bytetaxi and foldershare.
There is no answer at this time.

Subject: Re: What was the total purchase price for ByteTaxi, maker of Foldershare?
From: sublime1-ga on 23 Oct 2006 23:16 PDT
The purchase price was not disclosed.
Subject: Re: What was the total purchase price for ByteTaxi, maker of Foldershare?
From: thechairman-ga on 23 Oct 2006 23:24 PDT
Iomega disclosed a return on their investment, but it's inconclusive
in that they received payment for their stock, but also owned
exclusive rights to Foldershare.
There's no way to extrapolate the payment from iomega's disclosures.

Doesn't microsoft as a public company have to disclose this
information in their filings?

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