Cognos(R) Assumes Control of Applix; Subsequent Offering Period Expires October 30, 2007.- Acquisition of Leading Analytics Company to Extend Cognos Financial Performance Management Leadership - OTTAWA & WESTBOROUGH, Mass. -- Cognos (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 : COGN; TSX TSX Toronto Stock Exchange (TSE before April, 2002) TSX Transfer from Stack Pointer to Index TSX True Space Extension : CSN CSN Crosby, Stills, and Nash (band) CSN Centrala studiestödsnämnden (Swedish: state education grant and loan program) CSN Confédération des Syndicats Nationaux (French) ), the world leader in business intelligence and performance management solutions, and Applix, Inc. (NASDAQ: APLX), a publicly held company based in Westborough, Massachusetts For other uses of "Westborough", see Westborough (disambiguation).
tr.v. di·lut·ed, di·lut·ing, di·lutes 1. To make thinner or less concentrated by adding a liquid such as water. 2. To lessen the force, strength, purity, or brilliance of, especially by admixture. basis (which represents approximately 87% of the issued and outstanding common stock of Applix), giving Cognos control of the company. Additionally, Cognos has designated four representatives to serve on Applix's board of directors, replacing the Applix board members who have resigned and giving Cognos majority board representation. Two of the previous Applix board members will remain on the Applix board until the merger between the companies is completed. The initial offering period of Cognos' tender offer to purchase all of the outstanding shares of common stock of Applix expired at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time, on Tuesday, October 16, 2007. Cognos has accepted for payment the approximately 14,032,484 shares (including shares tendered by guaranteed delivery) tendered in the offer. Cognos and Applix also announced a subsequent offering period commencing on Wednesday, October 17, 2007 and expiring on Tuesday, October 30, 2007 at 5:00 p.m., New York City time. Pursuant to the terms and conditions of the Agreement and Plan of Merger, dated September 4, 2007, by and among Applix, Cognos and Dimension Acquisition Corp., a Massachusetts corporation and an indirect, wholly-owned subsidiary of Cognos, following the expiration or earlier termination of the subsequent offering period, Dimension will be merged with and into Applix, referred to as the Merger, and each outstanding share of common stock of Applix not tendered in the offer (other than shares held by Cognos or Dimension), will be converted into the right to receive $17.87 per share in cash, without interest thereon there·on adv. 1. On or upon this, that, or it. 2. Archaic Following that immediately; thereupon. Adv. 1. thereon - on that; "text and commentary thereon" on it, on that , less any required withholding taxes The amount legally deducted from an employee's wages or salary by the employer, who uses it to prepay the charges imposed by the government on the employee's yearly earnings. . Following the consummation CONSUMMATION. The completion of a thing; as the consummation of marriage; (q.v.) the consummation of a contract, and the like. 2. A contract is said to be consummated, when everything to be done in relation to it, has been accomplished. of the Merger, Applix will continue as the surviving corporation and an indirect, wholly-owned subsidiary of Cognos. The Merger is expected to occur promptly following Cognos' acceptance for payment of at least 90% of the common stock of Applix during the subsequent offering period. During the subsequent offering period, Cognos' acquisition subsidiary, Dimension Acquisition Corp., will accept for payment and promptly pay for Applix shares as they are tendered. Stockholders who tender shares during such period will be paid the same $17.87 per share cash consideration paid for shares tendered during the initial offering period. Shares tendered during the subsequent offering period may not be withdrawn. About Applix: Applix (NASDAQ: APLX) empowers agile enterprises The introduction to this article provides insufficient context for those unfamiliar with the subject matter. Please help [ improve the introduction] to meet Wikipedia's layout standards. You can discuss the issue on the talk page. by offering the only complete Business Analytics software solution. The Company is focused exclusively on providing a single, cohesive Performance Management and Business Intelligence solution, with strategic planning Strategic planning is an organization's process of defining its strategy, or direction, and making decisions on allocating its resources to pursue this strategy, including its capital and people. , forecasting, consolidations, reporting and analytics across financial, operational, sales and marketing, and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. departments. The Applix platform, powered by the renowned TM1 analytics engine, reaches farther, deploys easier, and reacts faster than any business analytics solution available today. Applix and its global network of partners help 3,000 customers worldwide manage their business performance and respond proactively to the marketplace. Headquartered in Westborough, MA, Applix maintains offices in North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , Europe and Asia Pacific. About Cognos: Cognos, the world leader in business intelligence and performance management solutions, provides world-class enterprise planning and BI software and services to help companies plan, understand and manage financial and operational performance. Cognos brings together technology, analytical applications, best practices, and a broad network of partners to give customers a complete performance system. The Cognos performance system is an open and adaptive solution that leverages an organization's ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. , packaged applications, and database investments. It gives customers the ability to answer the questions - How are we doing? Why are we on or off track? What should we do about it? - and enables them to understand and monitor current performance while planning future business strategies. Cognos serves more than 23,000 customers in more than 135 countries, and its top 100 enterprise customers consistently outperform Outperform An analyst recommendation meaning a stock is expected to do slightly better than the market return. Notes: Exact definitions vary by brokerage, but in general this rating is better than neutral and worse than buy or strong buy. market indexes. Cognos performance management solutions and services are also available from more than 3,000 worldwide partners and resellers. For more information, visit the Cognos Web site at http://www.cognos.com. Cognos and the Cognos logo are trademarks or registered trademarks of Cognos Incorporated in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and/or other countries. All other names are trademarks or registered trademarks of their respective companies. Note to Editors: Copies of previous Cognos press releases and Corporate and product information are available on the Cognos Web site at http://www.cognos.com. Important Information This document is for informational purposes only and is not an offer to buy or the solicitation solicitation In criminal law, the act of asking, inducing, or directing someone to commit a crime. The person soliciting another becomes an accomplice to the crime. The term also refers to the act of obtaining bribes, as well as to the crime of a prostitute who offers sexual of an offer to sell any securities. The solicitation and the offer to buy shares of Applix's common stock is only made pursuant to the Offer to Purchase and related materials that Cognos and Dimension Acquisition Corp. filed with the Securities and Exchange Commission ("SEC") on September 18, 2007 and subsequently amended. Applix filed the Solicitation/Recommendation Statement with respect to the offer with the SEC on September 18, 2007. Applix stockholders should read the Offer to Purchase and related materials carefully prior to making any decisions with respect to the offer because they contain important information, including the terms and conditions of the offer. Applix stockholders can obtain the Offer to Purchase, the Solicitation/Recommendation Statement and related materials with respect to the offer free of charge at the SEC's website at www.sec.gov, from MacKenzie Partners, Inc., the information agent named in the tender offer materials, from Applix or from Cognos. Cautionary Statement Regarding Forward-Looking Statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. Certain statements in this press release regarding the proposed transaction between Cognos and Applix and any other statements regarding Cognos' or Applix's future expectations, beliefs, goals or prospects constitute forward-looking statements made within the meaning of the Securities Exchange Act of 1934 and the Ontario Securities Act. Any statements that are not statements of historical fact (including statements containing the words "believes," "plans," "anticipates," "expects," "estimates" and similar expressions) should also be considered forward-looking statements. A number of important factors could cause actual results or events to differ materially from those indicated by such forward-looking statements, including the parties' ability to consummate the transaction. |
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