Curated content for content, computing, and digital experience professionsals

Day: August 15, 2001

IntraNet Solutions Changes Name to Stellent

IntraNet Solutions, Inc. announced that it will change its name to Stellent, Inc., effective August 29, 2001. The company’s ticker symbol will change to Nasdaq: STEL. The name “Stellent” is derived from a combination of word parts: “Stell” comes from the word “stellar” meaning of the stars, and “ent” is derived from the words “excellent” and “intelligent.” “Stars” and “stellar” have several connotations such as intelligence, superiority and enlightenment. They are associated with navigation and discovery, conveying themes of leadership, cutting edge innovation and choosing the right path. With only two syllables, the name “Stellent” speaks very quickly, suggesting rapid deployment, which is representative of the company’s Xpedio Content Management system. IntraNet Solutions’ Information Exchange Division (IED), which is responsible for the company’s wireless, conversion and viewing technology, will become the Stellent Software Components Division (SCD) beginning August 29. IntraNet Solutions’ Web site address will also change to www.stellent.com, and the company will launch a new logo. www.intranetsolutions.com

divine to Aquire Open Market

divine and Open Market announced that they have signed a definitive agreement for divine’s acquisition of Open Market in a stock-for-stock merger. Open Market’s technology will provide an environment for deploying applications that address a range of information-rich e-business initiatives such as portals, marketing campaigns, B2B catalogs, and publications. Under the terms of the merger agreement, divine will acquire all of the outstanding shares of Open Market common and preferred stock in exchange for approximately 44,285,000 shares of divine Class A common stock. Based upon divine’s closing price on August 14, 2001, the transaction would have an aggregate value of approximately $59.3 million. Open Market stockholders are expected to receive between approximately 0.8230 and 0.8598 shares of divine Class A common stock in exchange for each share of Open Market common stock. The Board of Directors of each company has approved the transaction and recommended it to their respective stockholders. The transaction is expected to close during the fourth quarter of 2001. divine and Open Market also signed a reseller agreement that enables the divine sales force to immediately begin selling Open Market products. www.divine.com, www.openmarket.com