BroadVision Builds XML Arsenal with Interleaf Acquisition
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Broadvision Inc. took steps to expand its wireless development resources Wednesday with the $852 million acquisition of Interleaf Inc., a provider of enterprise-wide software for content management and publishing.
Broadvision (BVSN) will issue approximately 5.6 million shares of its common stock to pay for the purchase. The companies expect to close the transaction by May 31, though it is subject to Interleaf (LEAF) shareholder approval.
With the acquisition, Broadvision will gain control of Interleaf's e-content company, a division dedicated to development, marketing and sale of eXtensible Markup Language (XML)-based content management tools for Web and wireless applications.
The use of XML-based wireless applications is growing. GartnerGroup estimates that by 2003, 80 percent of application-to-application traffic passing over public networks will be in XML.
"Through the acquisition of Interleaf, BroadVision will be able to quickly expand our leadership in delivering personalized e-business solutions for Web and wireless applications," said Chen. "With our combined customer base of more than 2,500 blue-chip and 'dot.com' companies, both firms have the proven ability to meet e-business demands for a fast time-to-market, easier integration with content sources and back-end systems, and high performance and scalability."