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Multimap is an online mapping service based across the pond in the UK.  They are quite big in the UK being second after Google Maps and right above Google Earth.  Today, Microsoft bought the mapping company to gain better ground in the UK where Windows Live Maps rank at a lowly 5.

It's just what big companies do to little fish who are actually better than them, eat them.  Just like Google buying Youtube to strengthen Google Video, Microsoft will be using Multimap's location-based search technology to beef up their own mapping service which really needs help, Microsoft Virtual Earth.

The rise of Google Maps has proven that maps are essential to any Web2.0 business and rake in millions of dollars. Microsoft was slow to keep on the heels of Google with their mapping service and is now tailing behind the search engine's baby.  But just like any huge company, Microsoft never says die.  Their acquisition of Multimap will work well with their local advertising efforts.

Multimap was purchased for $50million and half of that will go to its founder Sean Phelan. The company has been around for more than ten years and is expected to make more than $25 million in revenues this year.

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