Microsoft on Wednesday said it has invested $51 million in Groove Networks, taking another step toward solidifying its strategy to let customers share files and data with Web-based collaborative software.
Privately held Groove Networks, located in Beverly, Mass., makes software that takes a Napster-like approach to sharing files, ideas and data. The company's software is likely to play a central role in Microsoft's .Net strategy, a wide-ranging plan for moving business computing applications onto the Web.
The software giant's $51 million investment gives it a minority stake in Groove, a company founded in 1997 by Lotus Notes creator Ray Ozzie. Previous investors include Accel Partners and Intel. --Sandeep Junnarkar, Special to ZDNet News