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Consumer Financial Network + iClick, Health Pages, Living Abroad Publishing, Entrust Technologies + enCommerce, Siebel Systems + OpenSite

 Entrust Technologies (ENTU) acquires enCommerce

 

   *  Amount:         $470 million

 

   *  Terms:            10.25 million ENTU shares
 

   *  Premium:        n/a

 

   *  Industry:        Security software

 

   *  Scorecard:      B+

 


    PLANO & SANTA CLARA, April 18--Entrust Technologies (ENTU) , the global leader in solutions that bring trust to eBusiness, announced that it has signed a definitive agreement to merge with enCommerce, a global portal infrastructure company and the leading provider of software and services for managing eBusiness relationships. The enCommerce-Entrust union will create one of the world's largest trusted eBusiness infrastructure companies and the premier provider of total solutions for enterprise portals, vertical portals and marketplaces.

    The transaction is valued at approximately $470 million, as Entrust will issue approximately 8.2 million shares of common stock in exchange for 100% of the outstanding capital stock of enCommerce, and will assume all outstanding employee stock options and warrants, resulting in a total share exchange of 10.25 million shares. The transaction will be accounted for as a purchase and is expected to close by third quarter of 2000.