From: Steve Gallant
Date: Wednesday, March 15, 2000 10:03 AM
Subject: E.piphany Agrees to Pay $3.18 Billion for Octane
E.piphany Agrees to Pay $3.18 Billion For Maker of Web-Customer Software. Octane had $3 million in revenue in 1999.
March 15, 2000, Wall Street Journal Reports that E.piphany Inc. said agreed to buy closely held Octane Software Inc. for stock valued at $3.18 billion. Both companies are based in San Mateo, Calif.
Octane (www.octane.com) makes web-based CRM software. It was ready for an IPO but decided to accept the buyout offer form Epiphany instead.
E.piphany issue 12.8 million shares of its common stock for Octane, which will give Octane's stockholders 27% of E.piphany's shares outstanding. E.piphany was down $36.56, or 13%, to $248.9375 in 4 p.m. Tuesday Nasdaq Stock Market Trading.
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