Vignette to acquire OnDisplay
By Stephanie Sanborn
May 22, 2000 5:08 pm PT
E-BUSINESS APPLICATIONS VENDOR Vignette on Monday announced plans to buy OnDisplay for $1.7 billion and integrate the business-to-business infrastructure company's technology into its own family of e-business platform offerings.
The stock-for-stock transaction will involve 1.58 shares of Vignette stock for each share of OnDisplay. Vignette will add OnDisplay's trading networks and online marketplaces to their own. After the transaction is completed, the company will have about 2,000 employees and 870 customers.
OnDisplay's XML-based business-to-business infrastructure products help companies link their own data and applications with business partners and suppliers. This XML technology will complement Vignette's V/5 eBusiness Platform architecture, which allows users to manage content and e-business applications.
"Our customers increasingly require coordination between enterprise systems, suppliers, and multiple online marketplaces," said Greg Peters, president and CEO of Vignette, in a statement. "The acquisition of OnDisplay furthers Vignette's stated mission to provide the broadest and deepest applications platform to support the needs of companies who are serious about building businesses online."
The acquisition is expected to close in the third quarter of 2000 pending approval by OnDisplay's stockholders.
Vignette Corp., in Austin, Texas, is at www.vignette.com. OnDisplay Inc., in San Ramon, Calif., is at www.ondisplay.com.
Stephanie Sanborn is an InfoWorld reporter.
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