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U.S. antitrust authorities said on Friday they had approved plans by Microsoft Corp. to buy privately held speech technology company Tellme Networks Inc. Officials completed their investigation of the deal without taking any action, the Federal Trade Commission said in a notice. Financial terms of the deal have not been disclosed. However, sources familiar with the situation previously told Reuters the companies were in talks for a deal that could value Tellme at more than $800 million. Tellme, based in Mountain View, California has technology that allows people to use speech to find information on local businesses, driving directions, sports scores, stock quotes, weather and news from the Internet. The deal is expected to enhance searches over mobile phones, which Microsoft sees as a relatively untapped market where it can compete more favorably with Google Inc., the dominant leader in computer-based searches. Tellme, which has 320 employees, is privately owned by its employees and by investors that include venture capital firms Benchmark Capital and Kleiner Perkins Caufield & Byers. |
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