Microsoft Corp., the world’s largest software maker, said it will invest $100 million in research, development and entrepreneurial programs in Brazil.
The company will establish its fourth Microsoft Research Advanced Technology Laboratory in Rio de Janeiro. Microsoft will also set up a center for work on its Bing search engine and a business accelerator to support 15 startups over the next 24 months, according to a post on its website.
Microsoft, based in Redmond, Washington, is chasing growth in emerging markets as personal-computer sales increase at a faster rate in those countries than in the U.S. and Western Europe. The software maker will incorporate an investment fund, which will be wholly owned by Microsoft Brazil, to invest in startups.
Microsoft declined 2.6 percent to $29.08 at the close in New York. The stock is up 12 percent this year.