<P> On April 28, 1987, a week after shipment, a group of Microsoft's senior executives spent another day at Forethought to hear about initial PowerPoint sales on Macintosh and plans for Windows . The following day, Microsoft sent a letter to Dave Winer withdrawing its earlier letter of intent to acquire his company, and in mid-May 1987 Microsoft sent a letter of intent to acquire Forethought . As requested in that letter of intent, Robert Gaskins from Forethought went to Redmond for a one - on - one meeting with Bill Gates in early June, 1987, and by the end of July an agreement was concluded for an acquisition . The New York Times reported: </P> <P>... July 30--The Microsoft Corporation announced its first significant software acquisition today, paying $14 million ($30.2 million in present - day terms) for Forethought Inc. of Sunnyvale, Calif . Forethought makes a program called PowerPoint that allows users of Apple Macintosh computers to make overhead transparencies or flip charts...(T) he acquisition of Forethought is the first significant one for Microsoft, which is based in Redmond, Wash . Forethought would remain in Sunnyvale, giving Microsoft a Silicon Valley presence . The unit will be headed by Robert Gaskins, Forethought's vice president of product development . </P> <P> Microsoft's president Jon Shirley offered Microsoft's motivation for the acquisition: "' We made this deal primarily because of our belief in desktop presentations as a product category...Forethought was first to market with a product in this category ."' </P> <P> Microsoft set up within its Applications Division an independent "Graphics Business Unit" to develop and market PowerPoint, the first Microsoft application group distant from the main Redmond location . All the PowerPoint people from Forethought joined Microsoft, and the new location was headed by Robert Gaskins, with Dennis Austin and Thomas Rudkin leading development . PowerPoint 1.0 for Macintosh was modified to indicate the new Microsoft ownership and continued to be sold . </P>

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