Rational completes definitive agreement to acquire Objectory.SANTA CLARA Santa Clara, city, Cuba
Santa Clara (sän`tä klä`rä), city (1994 est. pop. 217,000), capital of Villa Clara prov., central Cuba. , Calif.--(BUSINESS WIRE)--Oct. 9, 1995--Rational Software Corporation (NASDAQ NASDAQ
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RATL Rockin' ATLanta ) today announced the completion of a definitive agreement to acquire Objectory AB Objectory Systems was a software company based in Sweden that was instrumental in the development of Object-oriented program design. Founded in 1987 by Ivar Jacobson, the company developed ObjectOry of Stockholm, Sweden.
In accordance with this agreement, Rational completed the acquisition of a 54 percent interest in Objectory from L.M. Ericsson AB of Sweden and holds an option, to be exercised in January 1996, to acquire the remaining 46 percent of the company. Rational issued 272,087 shares of its common stock in return for its 54 percent interest in Objectory.
Objectory is a leading provider of business and systems-engineering solutions based on object-oriented software-engineering technology. The company's main product suite, called Objectory, graphically models complex systems in terms of real-world objects and supports the transition from business and systems engineering to software architecture and implementation.
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3. Paul D. Levy, president and chief executive officer of Rational, "The Objectory product is an ideal complement to Rational's award-winning Rational Rose product line, which enables customers to complete the process of modeling a software architecture and designing and implementing the resulting software system. The integration of Objectory and Rational Rose lets users, for the first time, apply object technology to bridge the gap between business engineering and systems analysis and software design and implementation. Also, Rational will benefit from Objectory's strong international presence and customer base in markets such as telecommunications, financial services The examples and perspective in this article or section may not represent a worldwide view of the subject.
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Ivar Jacobson Ivar Hjalmar Jacobson (born in Ystad, Sweden, on September 2, 1939) is a Swedish computer scientist.
He got his Master of Electrical Engineering at Chalmers Institute of Technology in Göteborg in 1962 and a Ph.D. , the founder of Objectory, will be joining Rational as vice president of business engineering. Levy remarked: "Ivar Jacobson, the inventor INVENTOR. One who invents or finds out something.
2. The patent laws of the United States authorize a patent to be issued to the original inventor; if the invention is suggested by another, he is not the inventor within the meaning of those laws; but in that of use case technology, is a powerful addition to our team and will significantly increase the momentum behind the establishment of an industry standard by Rational for graphical object-oriented programming object-oriented programming, a modular approach to computer program (software) design. Each module, or object, combines data and procedures (sequences of instructions) that act on the data; in traditional, or procedural, programming the data are separated from the ."
"The combination of Objectory and Rational results in unmatched strengths in the application of object-oriented software process and tools to the development of complex software systems," stated Jacobson. "The application of object technology to business and systems engineering is an exciting market opportunity and Objectory's contribution to establishing a standard for graphical object-oriented development will help to accelerate the growth of this market."
In addition, Ericsson and Rational announced the completion of a strategic partnership agreement that resulted in Ericsson making a multi-million dollar commitment to purchase a significant number of licenses of Rational Rose, which will become an Ericsson corporate standard. Jorma Mobrin, vice president of Core Systems Management at Ericsson, stated, "Combining Rational's leadership in object-oriented development with Objectory's strength in business and systems engineering will result in a broadly adopted standard approach for graphical object-oriented programming. In addition, the breadth of Rational's product solution for developing complex software and its strong international presence make Rational an ideal partner for Ericsson."
The acquisition is being accounted for as a purchase transaction. A total of approximately 750,000 shares of Rational Software Corporation common stock, including the option exercise, will have been issued to complete the acquisition. The total value of the transaction is expected to be in the range of $7.5 million to $10 million. The company intends to allocate a substantial portion of the acquisition cost to purchased research and development, which should be expensed in the December quarter.
To provide for the cost of integrating Objectory, there will be a one-time restructuring charge restructuring charge
The expense of reorganizing a company's operations. A restructuring charge is an infrequent expense that generally results from asset writedowns or facility closings. of approximately $3 million to $5 million, which will also be recorded in the December quarter. As a result of these charges, the the Company will incur a loss in the December quarter.
Rational Software Corporation (NASDAQ: RATL) develops, markets, and supports a comprehensive solution for developing and managing complex software systems. The company provides an integrated family of tools that span the critical phases of the software-development process, from initial analysis and design through delivery and maintenance. In addition, Rational provides a full range of technical consulting, training, and support services support services Psychology Non-health care-related ancillary services–eg, transportation, financial aid, support groups, homemaker services, respite services, and other services as an integral component of its solution. -0-
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