BriefsWebTrends to Merge With NetIQNetIQ Corp. and Portland-based WebTrends Corp. announced a definitive merger agreement. According to those at both companies, the resulting product portfolio will include product lines for systems administration, network performance management, operations management, security management, web management, and eBusiness analytics and intelligence. "Building on the successful merger of NetIQ and Mission Critical and other recent strategic moves, this combination is the logical next step in our strategy to become the unparalleled leader in eBusiness infrastructure management and intelligence solutions," said Ching-Fa Hwang, chief executive officer of NetIQ. Under the terms of the transaction, which was approved by the boards of directors of both companies, WebTrends shareholders will receive 0.480 shares of NetIQ common stock for each WebTrends common share. Based on NetIQ's closing price of $75.00 on Tuesday, January 16, 2001, the transaction is valued at $36.00 per WebTrends share, or a total of approximately $1 billion. "Simply stated, this combination will result in greatly enhanced offerings for our more than 52,000 collective customers, increased business opportunities with partners, significant value creation for our shareholders and compelling opportunities for all our employees," said Eli Shapira, currently WebTrends chief executive officer, who will become chief strategy officer for NetIQ. Glen Boyd, currently president and chief technology officer of WebTrends, will become chief information officer of NetIQ, and Dan Meub, currently chief operating officer of WebTrends, will become senior vice president of WebTrends products at NetIQ. The combined company will be headquartered in San Jose, CA, but will also maintain significant operations in Portland, OR, where WebTrends is headquartered. |
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