divine, inc. announced that its board of directors has authorized divine and several of its subsidiaries to file a voluntary petition to reorganize under Chapter 11 of the U.S. Bankruptcy Code. Today’s action will be taken to protect the value and viability of divine’s operations while it works to restructure its liabilities and achieve a resolution to the remaining economic issues facing the RoweCom, inc. subsidiary. divine’s subsidiary divine/Whitman-Hart, is not included in this filing. Casas, Benjamin & White LLC (CBW) will assist divine’s current management team in handling day-to-day operations. divine and CBW intend to continue to explore strategic options with Broadview International LLC including the possible sale of its assets to a well-capitalized buyer or buyers. divine is reporting approximately $25 million in unrestricted cash on hand to operate the business as various options are considered. divine has received a letter of intent from financial investment firm GTCR Golder Rauner LLC to acquire divine’s business in its entirety. Any sale of divine’s assets would be accomplished pursuant to section 363 of the Bankruptcy Code and would be subject to final approval of the Bankruptcy Court. One of divine’s top priorities is ensuring that customers are protected and that they continue to receive products, services and support. divine has retained the critical staff to ensure that its operations will continue without interruption during the Chapter 11 reorganization and sale process. www.divine.com

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