Heavy losses for Microsoft business division

Link: Microsoft acquisition receives green light

In filing quarterly results with the US Securities & Exchange Commission, the software giant said its business division had made losses of $68m ($43m) on revenues of $107m.

Microsoft signalled its attentions to move into the lucrative accountancy software market with the purchases of Navision and Great Plains, challenging the dominance of market leader Sage.

Danish-based Navision was bought for almost £1bn in July this year, while Great Plains was acquired in December 2000 for £750m.

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