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#Business

Microsoft acquires Liveloop; says it will enable it to ‘reinvent productivity’

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Microsoft has acquired San Francisco-based startup LiveLoop for an undisclosed amount – a development it says will enable it to reinvent productivity.

Announcing the acquisition, Microsoft in a statement said “We are excited to welcome the talented team from LiveLoop to help build great collaboration across Office applications, part of our strategy and vision to reinvent productivity.”

Founded by Amal Dorai and David Nelson, LiveLoop web service converts PowerPoint presentations into Web URLs that can be shared on any device and collaborated on in real time without the need to install any software. The startup has received financial backup from venture capital firms including New Enterprise Associates and Columbus Nova Technology Partners.

As part of the acquisition deal, LiveLoop’s service will be made to shut down on April 24. It also informs that the company will be deleting all presentations and user data after the given date.

“LiveLoop will be shutting down permanently on April 24th, 2015. New user registration and presentation upload have been disabled. Existing LiveLoop users: if you have any data you would like to retrieve from LiveLoop, please do so before April 24th. On April 24th, all presentations and user data will be permanently deleted,” a notice on LiveLoop’s webpage reads.

The financial details of the deal remained undisclosed.

Last month, the Redmond also acquired mobile calendar application Sunrise in a deal valued at around $100 million.