SoftQuad Snags XML Content Transformation Firm
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SoftQuad Software Ltd., a leading developer of XML-enabling technologies, Thursday snapped up content transformation solution provider Advanced Data Engineering Inc. for about $4.7 million in stock based on Thursday's opening price.
ADEi's solutions enable organizations to convert large volumes of existing data from multiple sources -- like Word, Quark, Pagemaker and Acrobat -- into XML.
Under the terms of the agreement, SoftQuad will acquire all outstanding shares of ADEi for about 750,000 shares of the newly issued SoftQuad common stock, subject to post closing working capital adjustments. SoftQuad said the acquisition will be immediately accretive, and is expected to close this month. The transaction has been approved by the boards of both companies.
"Structured XML content is the cornerstone of eBusiness application success," said Roberto Drassinower, chief executive officer of SoftQuad. "The effective creation of XML content and the transformation of legacy documents into structured content are key requirements. The combination of SoftQuad's premier content creation solution, XMetaL, with ADEi's advanced content transformation systems uniquely positions SoftQuad to provide Global 2000 companies with a complete solution for XML content creation and transformation. Our enhanced capabilities allow us to aggressively pursue strategic partnerships with global systems integrators to capitalize on the market's anticipated broad deployment of XML solutions."