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Spotlight: Microsoft Acquires Hotmail Internet E-Mail Service

January 01, 1998

Microsoft Corp., beefing up its offerings on the Internet, has acquired e-mail service provider Hotmail Corp. for an undisclosed sum. Analysts said the price was probably $15 million to $30 million. Microsoft will make Sunnyvale-based Hotmail, which offers free e-mail service to its 9.5 million customers but sells advertising, a part of its Microsoft Network online service. Redmond, Wash.-based Microsoft said it will continue to offer Hotmail services to subscribers for free.

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