Microsoft Buys Office Mobile App LiveLoop

(RTTNews) - Microsoft Corp. (MSFT) acquired LiveLoop and its technology for sharing PowerPoint presentations online more easily.

The terms of the deal weren't disclosed. LiveLoop has only indicated on its Web site that it is no longer accepting new users and will shut down permanently on April 24, advising users to back up data before then.

LiveLoop's technology converts PowerPoint files into URLs that can be viewed from computers and smartphones without installing any software, according to the company's website.

According to sources, a Microsoft spokesperson confirmed that the company has bought LiveLoop and stated that, "Microsoft is excited to welcome the talented team from LiveLoop to help build great collaboration across Office applications, as part of our strategy and vision to reinvent productivity."

The tech giant isn't talking about its plans for LiveLoop, but it seems its technology will be used across the Microsoft Office suite of products, as per a Microsoft spokesperson.

In February, Microsoft acquired Sunrise Calendar app in a deal valued at $100 million, following the purchase of email app Acompli in December.