Business Objects Announces Intent to Acquire Armstrong Laing Limited; Business Objects Expands Enterprise Performance Management Portfolio with Leading Profitability Management and Activity Based Costing Solutions.SAN JOSE, Calif. & PARIS Paris, in Greek mythology Paris or Alexander, in Greek mythology, son of Priam and Hecuba and brother of Hector. Because it was prophesied that he would cause the destruction of Troy, Paris was abandoned on Mt. -- Business Objects (Nasdaq:BOBJ BOBJ Business Objects SA )(Euronext Paris ISIN Isin (ĭs`ĭn), capital of an ancient Semitic kingdom of N Babylonia. The city became important after the third dynasty of Ur fell to the Elamites and the Amorites (c.2025 B.C.). The phase from c.2025–c.1763 B.C. code: FR0004026250 - BOB), the world's leading provider of business intelligence (BI) solutions, today announced that it has entered into a definitive agreement to acquire privately-held Armstrong Laing Limited, trading as "ALG ALG antilymphocyte globulin. ALG antilymphocyte globulin. ALG Antilymphocyte globulin, see there Software," a leading provider of profitability management and activity based costing solutions. The acquisition will be an all-cash transaction of approximately 30 million GBP GBP In currencies, this is the abbreviation for the British Pound. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (approximately $56 million USD USD In currencies, this is the abbreviation for the U.S. Dollar. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. at current exchange rates) for all outstanding shares of ALG Software by Business Objects (U.K.) Limited, a Business Objects wholly owned U.K. subsidiary, and will be accounted for under the purchase method of accounting. The acquisition is subject to regulatory approvals and other customary closing conditions, and is expected to be completed in the fourth quarter of 2006. Total revenue for ALG Software was approximately $19 million for its fiscal year ended January 31, 2006. ALG Software is a global provider of enterprise performance management (EPM EPM equine protozoal myeloencephalitis. ) software that is used for profitability management, activity based costing, predictive planning, and strategic business performance measurement. The company has more than 400 customers worldwide, including American Express, British Airways, British Telecom, Heineken, HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , Royal Bank of Scotland
The Royal Bank of Scotland Plc (Scottish Gaelic: Banca Rìoghail na h-Alba , US Department of Labor, and WHSmith. ALG Software's profitability management and activity based costing solutions represent a fast-growing segment of the EPM market and complement the existing Business Objects EPM solutions. "Today's announcement is terrific news for our customers -- by adding ALG Software's profitability management solutions to our EPM and BI offerings, we will provide our customers with a powerful arsenal for building high impact performance management solutions," said John Schwarz, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Business Objects. "The EPM market is in the midst Adv. 1. in the midst - the middle or central part or point; "in the midst of the forest"; "could he walk out in the midst of his piece?" midmost of rapid change, and with this acquisition we will continue to play a leading role in shaping the market. This acquisition is another milestone in our long term corporate strategy around EPM." "The combination of Business Objects and ALG Software makes perfect sense, from both a company perspective and from the perspective of our customers," said Mike Sheratt, founder and CEO of ALG Software. "ALG Software brings to Business Objects a strong solutions portfolio, as well as talented management, development, and sales teams with proven track records. We are excited about the future direction of enterprise performance management at Business Objects, and feel ALG can help play a key role in its success." About ALG Software ALG Software is a global provider of performance management solutions to Global 5000 enterprises and leading government agencies. ALG provides a single solution for activity-based costing and performance measurement to link operational and financial perspectives. This gives organizations increased visibility into past, present and future performance together with an insight into causes and effects so they can constantly improve their future performance. Founded in 1990, ALG Software has its North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. headquarters in Atlanta, Georgia, with EMEA (Europe, Middle East, Africa) Refers to that region of the world. For example, one might see products packaged differently for the UK, EMEA and Asia Pacific markets. headquarters in Knutsford, UK, and additional offices and agents worldwide. More information is located at www.algsoftware.com. About Business Objects Business Objects is the world's leading business intelligence (BI) software company, with more than 39,000 customers worldwide, including over 80 percent of the Fortune 500. Business Objects helps organizations of all sizes create a trusted foundation for decision making, gain better insight into their business, and optimize performance. The company's innovative business intelligence suite, BusinessObjects(TM) XI, offers the BI industry's most advanced and complete solution for performance management, planning, reporting, query and analysis, and enterprise information management. BusinessObjects XI includes the award-winning Crystal line of reporting and data visualization software. Business Objects has also built the industry's strongest and most diverse partner community, and offers consulting and education services to help customers effectively deploy their business intelligence projects. Business Objects has dual headquarters in San Jose, Calif., and Paris, France. The company's stock is traded on both the Nasdaq (BOBJ) and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. More information about Business Objects can be found at www.businessobjects.com. Forward Looking Statements This document contains forward-looking statements that involve risks and uncertainties concerning Business Objects' products and services, ALG Software's EPM solutions, the closing of the transaction and the timing thereof, the benefits to customers from the acquisition, Business Objects' position in the EPM market, and impact of the transaction on Business Objects' financial results. Actual events or results may differ materially from those described in this document due to a number of risks and uncertainties. The potential risks and uncertainties include, among others: the tax impact of the acquisition on Business Objects, the outcome of regulatory reviews of the transaction and the ability of the parties to complete the proposed transaction, Business Objects' ability to retain ALG Software's employees, and Business Objects' ability to realize other financial benefits from the proposed acquisition. More information about potential factors that could affect Business Objects' business and financial results is included in Business Objects' Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2006 and Business Objects Form 10-K for the year ended December 31, 2005, which are on file with the Securities and Exchange Commission (the "SEC") and available at the SEC's website at www.sec.gov. Business Objects is not obligated ob·li·gate tr.v. ob·li·gat·ed, ob·li·gat·ing, ob·li·gates 1. To bind, compel, or constrain by a social, legal, or moral tie. See Synonyms at force. 2. To cause to be grateful or indebted; oblige. to and does not undertake any obligation to update these forward-looking statements to reflect events or circumstances after the date of this document. The Business Objects logo, BusinessObjects, Crystal Reports, Intelligent Question, and Xcelsius are trademarks or registered trademarks of Business Objects in the United States and/or other countries. All other names mentioned herein may be trademarks of their respective owners. |
|
||||||||||||||
Printer friendly
Cite/link
Email
Feedback
Reader Opinion