Microsoft announced its acquisition of Groove Networks, a privately held company founded by Ray Ozzie, known for his work on Lotus Notes. The acquisition includes Groove's 200 employees, and Ozzie will become one of Microsoft's three chief technical officers.
Ozzie's career spans several pioneering software companies. He was involved in the development of VisiCalc (the first spreadsheet software) and played a key role in the creation of Lotus Notes, a software that enabled easier information sharing among office workers. His experience includes work with minicomputer operating systems and leading the development of Lotus Notes from his company, Iris Associates.
Groove Networks, founded in 1997, develops software for simplified collaboration among computer users regardless of location. While financial details weren't disclosed, Groove was valued at approximately $250 million in 2001 and Microsoft was a significant investor along with Intel Capital.