Microsoft has acquired GreenField Online via a cash tender offer for $17.50 per share in a transaction valued at approximately $486 million. In addition, Greenfield Online announced that immediately prior to entry into the merger agreement with Microsoft it had terminated its previously announced merger agreement with affiliates of Quadrangle Group LLC.

                                                                Microsoft has advised Greenfield Online that it has entered into an agreement to sell the assets of Greenfield Online’s Internet survey solutions (ISS) business to an unnamed financial buyer. The merger of Greenfield Online and Microsoft and Microsoft’s sale of the ISS business are expected to close simultaneously in the fourth quarter of 2008. The consummation of the Microsoft transaction is not contingent on the sale of the ISS business.

                                                                Albert Angrisani, Greenfield Online’s President and Chief Executive Officer said: “We are pleased to deliver additional value to our stockholders through this superior offer from Microsoft. We are excited about working with one of the world’s leading corporations to effectuate a smooth transition in both our comparison shopping and global ISS businesses.” Angrisani added, “We believe that the transition will have a positive outcome for our customers and employees.”

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