BROADVISION WILL BUY INTERLEAF FOR $851.6 MILLION.
California based software company BroadVision will acquire Massachusetts based supplier of document-management systems Interleaf Desktop publishing software that was widely used for DOS, Windows 95/98, NT, and a variety of Unix-based computers from Interleaf, Inc., Waltham, MA. Interleaf's full-featured program supported a large number of document and image types, including its ability to handle extremely long for $851.6 million. This is the largest acquisition ever by BroadVision and is an extension of its plan to deliver electronic-commerce software for the web and wireless devices by acquiring content management type companies.
Interleaf, a major supplier of document-management systems to large corporation, utilizes extensible markup language See XML.
(language, text) Extensible Markup Language - (XML) An initiative from the W3C defining an "extremely simple" dialect of SGML suitable for use on the World-Wide Web.
http://w3.org/XML/. (XML XML
in full Extensible Markup Language.
Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. ), an emerging standard that makes it easier to automate business processes. Central to BroadVision's efforts was the value of Interleaf's "E Content" division which includes nearly 300 of Interleaf's 400 employees. The closing of the transaction is anticipated prior to June 2000, and would have some slight dilutive effect Dilutive effect
Result of a transaction that decreases earnings per common share (EPS). on BroadVision's earnings in the first half of the year 2000, according to a company spokesperson.
Both companies are traded on the NASDAQ NASDAQ
in full National Association of Securities Dealers Automated Quotations
U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on , and the acquisition will be accomplished by the use of BroadVision shares, with an exchange of 0.3465 of a share of BroadVision for each share of Interleaf, which reflects a premium of approximately 40% to Interleaf's January 24 closing price.