Microsoft (NSDQ: MSFT), in the middle of a bid to acquire Yahoo (NSDQ: YHOO), has announced that it will acquire Danger Inc., the company behind the Sidekick mobile device. The Palo Alto-based mobile software company filed in December to raise up to $100 million in an IPO. But the company has been losing money and its fortunes are tightly tied to the success of the SideKick and its agreement with T-Mobile. The firm will become part of Microsoft’s Entertainment & Devices division. Terms of the deal were not disclosed. Release.
Danger has raised about $142 million in total VC funding since 2000, including a Series E round in late 2006 at a post-money valuation of approximately $187 million, reports PEHub. Shareholders include Mobius Venture Capital (17.6%), Redpoint Ventures (14.8%), T-Mobile (12.6%), Softbank Capital (12.7%), Motorola (NYSE: MOT) (11.2%), Meritech Capital Partners (7.8%) and VSP Capital (6.2%).
{"source":"https:\/\/gigaom.com\/2008\/02\/11\/419-microsoft-to-acquire-danger-inc\/wijax\/49e8740702c6da9341d50357217fb629","varname":"wijax_5636a3799f6b5310374681c44d49354a","title_element":"header","title_class":"widget-title","title_before":"%3Cheader%20class%3D%22widget-title%22%3E","title_after":"%3C%2Fheader%3E"}