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NetManage to Buy Wall Data

NetManage Inc. Thursday agreed to buy Wall Data Inc. for $94 million in a move to broaden its e-business solutions.

NetManage (NETM) will make a cash tender offer to purchase all outstanding shares of Wall Data (WALL) for $9 per share within five business days.

The acquisition hinges on the tender of more than 51 percent of Wall Data's stock in the offer, which is expected to commence Oct. 27 and expire Nov. 24. Leftover shares will be bought in a later transaction at the same price as soon as possible after the tender is completed.

NetManage, a leader in PC connectivity solutions, believes the combined company will be able to help corporations in areas of e-business and e-commerce. NetManage also hopes to increase its presence in the Web-to-host market as a single source supplier of connectivity applications for UNIX, IBM AS/400 Midrange and IBM mainframe systems.

Wall Data is a leader in pc-to-host communications software.

"With the acquisition of Wall Data, we are continuing to further our strategy of market leadership while increasing our presence in the new and growing e-commerce and e-business market," said Zvi Alon, president and chief executive officer of NetManage.

"We believe Wall Data's position in the IBM host connectivity and Web-to-host markets will help broaden our product and service offerings for new and existing enterprise customers."