Microsoft's next target: WebEx

"The red-hot Web-conferencing space got a big boost on Monday, when Microsoft unveiled its new Live Meeting software. The software, Microsoft's first real attempt to enter the Web-conferencing space, appears at a time when the sector as a whole is seeing annual growth rates north of 40 percent, according to the Yankee Group. For investors in industry leaders such as WebEx Communications and Raindance Communications, however, the arrival of Redmond's crew is a pretty tough bit of news."

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