Microsoft agrees to buy Visio

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Redmond, Wash.--Microsoft Corp. announced Wednesday that it agreed to acquire Seattle-based Visio Corp., a supplier of business diagramming and technical drawing software, in a stock deal reportedly valued to be worth $1.3 billion. Visio will become Microsoft's Vision Division and operate within the software giant's Business Productivity Group, led by senior VP Bob Muglia. Jeremy Jaech, Visio's president-CEO, said in a statement that being a part of Microsoft will aid in the distribution of Visio software.
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