Last year Microsoft Corporation bought Fast Search & Transfer, an enterprise search company for $1.2 billion. This was about 5 months before Microsoft bought Powerset for about $100 million. Today Microsoft is announcing the Fast core enterprise search product and Fast’s service being integrated into SharePoint.
“We couldn’t really be happier about the progress,” stated Kirk Koenigsbauer general manager of Fast Search. The technical has been completed in bringing in the products together. And Koenigsbauer said that the December quarter was a blowout in terms of sales for Fast’s existing products. Fast’s existing products helps companies find documents internally. “Fast itself had best quarter it has ever had.”
However Fast Search had been part of an accounting scandal in October which led to John Lervik, former CEO of the search company to step down from his position at Microsoft. “A thorough review of the past financial practices that led to a restatement of Fast’s 2006 & 2007 earnings has been undertaken to help ensure that such problems are not encountered again,” Microsoft released in a statement. “With the conclusion of this process, John Lervik has chosen to resign from Microsoft’s Fast subsidiary.”
There are two main execs that handle the Fast Search transition. Koenigsbauer leads the business side of and Bjorn Olstad, former CTO of the search company is now the Microsoft Distinguished Engineer. Olstad handles the technical aspects of the transition.