Jacada to Acquire Propelis Software
Jacada Ltd. has executed a definitive agreement to acquire certain assets and assume certain liabilities of Propelis Software Inc., a business unit of CNT and a provider of business process management and legacy integration software. The purchase price consists of $6.0 million in cash and the issuance of a warrant to purchase 350,000 ordinary shares of Jacada Ltd.
Propelis products include Propelis EAi (Enterprise Access integrator), which integrates data and processes from multiple legacy applications, and Propelis BPm (Business Process manager), a business process management system that automates business processes while integrating enterprise systems.
Under the terms of the agreement, Jacada will purchase key technology, intellectual property and other assets of Propelis for $6.0 million in cash and assume certain Propelis liabilities. In addition, Jacada will issue a warrant for CNT to acquire 350,000 ordinary shares of Jacada Ltd. stock at an exercise price based on the average price of the company's shares for the 20 trading days prior to the closing date. The final purchase price is subject to adjustment based on the closing balance sheet of Propelis. The acquisition is expected to be accretive to Jacada's earnings in the first half of 2002 and is expected to close by the end of August, subject to satisfaction of certain closing conditions.
For more information, visit www.jacada.com.