PaylinX Cashes in its Chips

  
* 
Amount:         $41
billion

  
* 
Terms:           
3.8 million shares

  
* 
Premium:        90%

  
* 
Industry:       
Speed/Bandwidth

  
* 
Scorecard:      B+

• 
  
• 
  SAN JOSE, July 10–JDS Uniphaseand
  SDL, Inc.announced their definitive agreement
  to merge in a transaction valued at approximately $41 billion. The merger
  agreement provides for the exchange of 3.8 shares of JDS Uniphase common
  stock for each common share of SDL. The merger of JDS Uniphase and SDL is expected to facilitate the creation
  and deployment of high-capacity, flexible optical networks by accelerating
  the delivery of advanced products and basic building blocks of optical
  networks.
• 
  
•  

  
* 
Amount:         $5.8
million

  
* 
Terms:           
154,000 shares/$1.99 million in cash

  
* 
Premium:        n/a

  
* 
Industry:        Performance
software

  
* 
Scorecard:      A-

• 
  
• 
  SAN JOSE, July 10–PUMATECH, the leading
  provider of the essential software infrastructure for the ubiquitous mobile
  Internet, announced that it has signed an agreement to acquire Dry Creek
  Software of Campbell, Calif., a California Limited Liability
  Corporation specializing in the rapid creation of software solutions that
  allow for transparent data access between mobile devices, enterprise
  servers and Internet applications. Under the terms of the definitive
  agreement, PUMATECH will pay
  $1,987,500 in cash and issue approximately 154,000 shares of PUMA common
  stock in exchange for all outstanding Dry Creek memberships and economic
  interests. Dry Creek will form the core of PUMATECH’s new Professional
  Services Organization, which will deliver customized, turnkey solutions
  based on the MAP infrastructure for wireless carriers, ISPs, Web portals,
  corporate enterprises and more.
• 
  
•  

  
* 
Amount:         $134
million

  
* 
Terms:           
8.4 million shares

  
* 
Premium:        n/a

  
* 
Industry:        Financial
services

  
* 
Scorecard:      B-

• 
  
• 
  MOUNTAIN VIEW, July 10–CyberSource, a
  leading provider of mission-critical e-commerce transaction services,
  announced that it has signed a definitive agreement to acquire
  PaylinX. The PaylinX
  acquisition will allow CyberSource
  to provide businesses selling through multiple channels with an
  enterprise-wide payment software solution that has fully integrated access
  to CyberSource’s suite of e-commerce transaction services. CyberSource has
  agreed to issue approximately 8.4 million shares of its common stock to
  acquire all of the outstanding stock of PaylinX.
• 
  
•  

  
* 
Amount:         $247
million

  
* 
Terms:           
41.3 million shares

  
* 
Premium:        n/a

  
* 
Industry:  &nb

sp;     Internet
services

  
* 
Scorecard:      C+

• 
  
• 
  DALLAS & SAN FRANCISCO, July 10–DG Systems, the leading digital distributor of advertising to the
  broadcast industry, and privately-held StarGuide Digital Networks, a
  leading provider of long form audio and digital network services to the
  broadcast industry, announced that they have entered into a definitive
  agreement to merge in a tax free stock-for-stock transaction. The combined
  entity will form the broadcasting industry’s premiere delivery solution for
  digital multimedia content featuring proprietary satellite and Internet
  transmission technology. Under the terms of the agreement, StarGuide will merge with DG Systems through the issuance of
  approximately 1.7 DG Systems shares for each outstanding share of StarGuide
  Common Stock. In aggregate, DG Systems will issue approximately 41.3
  million basic shares and assume options and warrants covering approximately
  10.1 million shares.
• 
  
•  

  
* 
Amount:         $13.23
million

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:        Performance
software

  
* 
Scorecard:      B+

• 
  
• 
  PHILADELPHIA, July 10–Pioneering the next-generation model of
  distributed tr
• ansactioning systems for wireless and Internet applications,
  Bluestone Software, a leader in business-to-Web
  and wireless technologies, announced that it has acquired Arjuna
  Solutions Limited of Newcastle, England for $13.23 million. Arjuna is one of the world’s leading
  centers of expertise in standards-based, distributed transactional and
  workflow software, and the developers of the industry’s first and only
  commercial transactioning system developed entirely with Java technology,
  and will bolster Bluestone’s
  Internet Operating Environment with an embedded, high-performance, pure
  Java Transaction Service.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:        E-commerce
enablers

  
* 
Scorecard:      C

• 
  
• 
  ATLANTA, July 10–Digital Insurance, an Internet enabled
  technology providing an online distribution channel for insurance carriers
  to serve small and medium sized businesses, has announced the acquisition
  of the HealthAxisretail Web site, the next
  generation Web site, the existing HealthAxis.com block of in-force insurance
  business, certain hard assets, and a strategic partnership with HealthAxis
  for critical back-end technology services to power Digital Insurance’s
  health insurance e-platform.
• 
  
•  

  
* 
Amount:         $18
million

  
* 
Terms:           
2 million shares

  
* 
Premium:        n/a

  
* 
Industry:       
Advertising/Marketing

  
* 
Scorecard:      B-

• 
  
• 
  LOS ANGELES, July 10–L90announced that
  it has agreed to acquire webMillion, one of the Industry’s leading
  direct marketing promotions companies. Adding to L90’s tremendous growth in the first half of
  2000, the webMillion acquisition is
  expected to enhance L90’s sweepstakes, promotions, and direct marketing
  business while strengthening the platform on which it develops
  sophisticated, integrated advertising packages for its clients. Under the
  terms of the merger agreement, L90 will issue 2.0 million shares of L90
  stock to the webMillion stockholders.
• 
  
•  

  
* 
Amount:         $120-$150
million

  
* 
Terms:           
100% cash

  
* 
Premium:    &

nbsp;   n/a

  
* 
Industry:        Financial
services

  
* 
Scorecard:      B

• 
  
• 
  MOUNTAIN VIEW, July 10–Financial software provider Intuit
  said it will buy the shares of Venture Finance
  Software it does not already own for $120 million to $150 million in
  cash. Intuit initially acquired a stake
  in the privately held technology company in May 1998, and the final
  purchase price will be calculated based on a formula negotiated at that
  time. Based in Mountain View, Calif., Virtual Finance Software developed
  technology that enabled Intuit to move functions of its popular Quicken
  financial software from desktop computing to Web-based applications, such
  as enabling its customers to view and pay bills online, as well as monitor
  and manage their personal finances.
• 
  
•  

  
* 
Amount:        
Undisclosed

  
* 
Terms:           
n/a

  
* 
Premium:        n/a

  
* 
Industry:       
Content/Communities

  
* 
Scorecard:      C-

• 
  
• 
  PLAYA DEL REY, July 10–Craf
• tClick.com
  announced the acquisition of Craftmall.com, adding another popular
  and highly-trafficked online Arts & Crafts destination to the CraftClick.com Network. Craftmall.com, a Louisiana-based
  company, has been in operation since 1996, and boasts and average of over
  380,000 page views per month.
• 
  
•