Ariba Nabs Agile
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Ariba Monday revealed plans to acquire Agile Software Corp. in a stock-for-stock deal valued at $2.55 billion.
Under the terms of the agreement, each share of Agile common stock will be converted into 1.35 shares of Ariba. Ariba's common stock is valued at $40 a share based on its stock market closing price on January 26, 2001.
Ariba, a B2B ecommerce platform and network service provider, intends to implement Agile's software solutions and expand its offerings of inter-enterprise solutions, according to Keith Krach, chairman and CEO of Ariba.
"In addition, the acquisition expands our product footprint, adds to our customer base and offers us new marketing activities," he said.
Following the merger, the combined companies anticipate offering solutions that extend eprocurement functionality, streamline direct and indirect materials sourcing, negotiations a contract management; and implement full-cycle collaborative commerce throughout their own value chains.
The acquisition is expected to be completed by the third quarter of Ariba's fiscal year.