Greenfield Online, Inc. (NASD: SRVY), a global interactive media and services company that collects consumer attitudes about products and services, enabling consumers to reach informed purchasing decisions about products and services, recently announced that the company has entered into a merger agreement to be acquired by Microsoft Corporation (NASD: MSFT) for $17.50 per share in a transaction valued at approximately $486 million.

Prior to entry into the merger agreement with Microsoft, Greenfield Online terminated its previously announced merger agreement with affiliates of the Quadrangle Group, LLC, following the expiration of the matching rights granted to Quadrangle under the merger agreement. Per the terms of the termination of the merger agreement, Greenfield Online is required to pay Quadrangle Group, LLC a $5-million fee.

Under the terms of the agreement, Microsoft will sell the assets of Greenfield Online’s Internet Survey Solutions (ISS) business to an unnamed financial buyer. The company anticipates that the merger with Microsoft and the subsequent sale of the ISS business will be completed in the fourth quarter of 2008.

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