Though Microsoft hasn't yet made an announcement about the acquisition, ZDNet's Mary Jo Foley said that a Microsoft spokesperson has confirmed the deal. Further pointing to a potential acquisition is a message on LiveLoop's website that notes that it will shut down on April 24:

"LiveLoop will be shutting down permanently on April 24th, 2015. New user registration and presentation upload have been disabled. Existing LiveLoop users: if you have any data you would like to retrieve from LiveLoop, please do so before April 24th. On April 24th, all presentations and user data will be permanently deleted"

As Foley notes, LiveLoop's first product was a plug-in for PowerPoint that enabled multiple-user collaboration on a particular project. If Microsoft has indeed snapped up the company, it could be in an effort to build out the collaboration features of its services.

Source: ZDNet