Your acquisitions tonight
News just in of not one but two acquisitions (plus a conclusion of a deal) – we'll leave it for readers to decide if this is evidence of the ongoing recession and that 'For Sale' signs are going up across the IT industry…
Firstly, Open Text Corporation and Vignette Corporation today announced that they have entered into a definitive agreement pursuant to which Vignette will become a wholly owned subsidiary of Open Text. Vignette shareholders will receive US $8.00 in cash plus 0.1447 of an Open Text common share for every Vignette common share which equates to approximately US $12.70 at close of market on May 5, 2009. This represents a premium of approximately 74% above the 30 trading day average closing price of Vignette’s shares and approximately 41% above the most recent closing price. This values the transaction at approximately US $310 million.
John Shackleton, President and Chief Executive Officer of Open Text, stated “The combination of Vignette with Open Text will extend the breadth of our offerings and further Open Text’s positioning as the leading independent ECM vendor in the marketplace.” Vignette’s customers represent some of the world's most powerful online brands and we are excited about the opportunity to expand the relationship with these customers and partners,” said Shackleton.
• Vignette is based in Austin, Texas, and has approximately 700 employees. The transaction is expected to close in the second half of calendar 2009 and is subject to customary closing conditions, including approval by Vignette’s shareholders, Hart-Scott-Rodino anti-trust clearance.
Then, SAP , announced that the signing of the acquisition of privately-held Highdeal, the leading provider of real-time billing solutions for telecommunications, occurred on May 4, 2009. Highdeal delivers sophisticated pricing and charging solutions designed to support today’s new service economy. TThe combination of SAP and Highdeal is intended to provide customers a packaged consume-to-cash business process platform to support high-volume billing and enable a reduction in cost of ownership.
• Headquartered in Caen, France, Highdeal has more than 200 customer implementations in over 50 countries. As a spin-off from the research and development labs of France Telecom in 2000, Highdeal pioneered the pricing and rating market, gaining early prominence in the telecommunications industry. Highdeal employs approximately 90 employees, located around the world in major cities including Paris, New York, London, Miami and Singapore.
And, finally, Integreon has just announced it has successfully completed its acquisition of the e-discovery assets of Washington, DC-based ONSITE3, a leading provider of electronic evidence solutions for law firms and corporations. Terms of the transaction were not disclosed. The e-discovery operations of ONSITE3 have been merged with Integreon's current e-discovery business and the combined operations will account for nearly half of the firm's projected $80 million revenues this year, up from $35 million in 2008.