Microsoft Buys MongoMusic

Bolstering its line-up of multimedia offerings, Microsoft Corp. said that it has acquired MongoMusic Inc., a Redwood City, Calif.-based digital music firm. Although the companies declined to comment on the financial details, sources close to the deal pegged the acquisition at $65 million. MongoMusic, which has a staff of 65, was launched in 1999 and funded by Nokia Ventures and Sony Music. Officials with the music start-up said that the bulk of its staff will be relocated to Microsoft’s offices in Redmond, Wash.