REDMOND, Wash. -- April 5, 2001 - Microsoft Corp. today announced the completion of its acquisition of Great Plains Software Inc., a leading supplier of midmarket business applications, for approximately $1.1 billion in stock. Under terms of the acquisition, originally announced on Dec. 21, 2000, Great Plains will become a division operating within Microsoft's Productivity and Business Services Group, led by Microsoft Group Vice President Jeff Raikes. Microsoft Great Plains will continue to be based in Fargo, N.D., led by Doug Burgum, senior vice president of Microsoft and president of the Great Plains Division, and his current leadership team. "We are thrilled to welcome Doug Burgum and all of the Great Plains team members to the Microsoft® family of productivity offerings," Raikes said. "We share a vision of the future of business applications for small and midsized companies and how we can provide the solutions needed for these companies to succeed in an increasingly interconnected economy." "Microsoft Great Plains will continue to enhance our solid reputation for customer service and innovative business solutions," said Burgum. "With the commitment of our 2,200 global channel partners, more than 2,000 team members, and the tremendous people and technical assets within Microsoft, we have the opportunity to reshape some of the basic assumptions that have guided commerce in the past and truly improve the lives and business success of our customers."