Peregrine Completes Acquisition of Harbinger

• 06/21/2000

Peregrine Systems Inc. (San Diego), a provider of infrastructure management software and employee self-service solutions, has completed its acquisition of longstanding AS/400 stalwart Harbinger Corp. (Atlanta) Through the acquisition, Harbinger’s services and technology will become the core of Peregrine’s new e-business Connectivity Group.

For Harbinger AS/400 customers, the acquisition immediately invokes the question of Peregrine’s plans for the Harbinger AS/400 products. According to a Peregrine spokesperson, there are currently no plans to discontinue support for any Harbinger product.

The acquisition is designed to positions Peregrine to become a leading player in the emerging e-business market. The new Peregrine solution integrates processes for infrastructure management, employee self-service solutions, and the creation and management of B2B connections and exchanges—enabling businesses of all sizes to access e-marketplaces.

The announcement follows a merger that took place between the two companies in April. Under terms of the agreement, Peregrine Systems acquired all the outstanding stock and stock options of Harbinger at an exchange rate of 0.75 shares of Peregrine Systems common stock for each share of Harbinger common stock. Peregrine issued approximately 36 million shares in exchange for all the outstanding equity securities of Harbinger. The acquisition was completed on June 16, following approval of shareholders of both companies.

"The combination of Peregrine Systems and Harbinger reshapes the competitive landscape for end-to-end e-Business solutions," says Steve Gardner, president and CEO of Peregrine Systems. "As a single provider, we will create, operate and link e-Business networks, e-Catalogs and online marketplaces, while managing the full lifecycle and infrastructure of e-Business. Harbinger is the most advanced and open B2B e-Commerce delivery organization in the world, which makes it a logical addition to our Infrastructure Management software solutions. The combination is powerful and creates the clear market leader for e-Business solutions delivery."

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