Microsoft to Buy Great Plains

Microsoft Corp. agreed to buy Great Plains Software Inc. for $1.1 billion in stock, as the leading software maker seeks to improve its line of business tools for small and medium-sized companies. Microsoft will swap 1.1 of its shares for each share of Great Plains, a Fargo, N.D.-based pioneer in computer-based accounting. That values Great Plains at $45.65 a share, or 29% above Wednesday’s close. Great Plains shares jumped $11.25 to close at $46.56, while Microsoft rose $1.94 to close at $43.44 on Nasdaq.