Informix to Acquire Ardent Software
Informix and Ardent Software have reached a definitive agreement to combine their operations in a transaction valued, on a fully diluted basis, at approximately $880 million, based on the closing price of Informix common stock on November 30, 1999.
Under terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, 3.5 shares of Informix common stock will be exchanged for each outstanding Ardent share and Informix will assume all outstanding Ardent options. The transaction is expected to be accounted for as a pooling of interests and to be accretive to Informix’s earnings per share in 2000, excluding non-recurring, transaction-related costs. The transaction will be treated as a tax-free reorganization for Ardent’s shareholders. Completion of the transaction, which is subject to the approval of stockholders of both companies and customary regulatory reviews, is expected to occur in the first quarter of 2000.
For more information about Ardent Software, visit www.ardentsoftware.com. For more information about Informix, visit www.informix.com.