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Article: SOFTWARE AG TO ACQUIRE SAGA FOR $360 MILLION.(Company Business and Marketing)
- Article from:
- Software Industry Report
- Article date:
- November 6, 2000
CopyrightCOPYRIGHT 2000 Millin Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Software AG will acquire all outstanding common stock in SAGA Systems for $11.50 per SAGA Systems share in cash, for a total transaction value of approximately $360 million. SAGA Systems markets and services Software AG's products in North and South America, Japan and Israel.
In addition, SAGA Systems licenses and services its own enterprise application integration product, Sagavista. SAGA Systems is headquartered in Reston, Va. and employs nearly 800 people. In the 12 months ended Sept. 30, 2000, SAGA Systems had revenues of $196 million.
"We are extremely pleased to announce the acquisition of SAGA Systems," Dr. Erwin Konigs, CEO, Software AG, said. ...
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... ... Directors. Gillis formerly served as president, chief executive officer and director of SAGA Systems, Inc. from May 1996 until its purchase by Software AG in February 2001. Gillis will bring his experience and expertise in the e-business ...
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