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Day: October 13, 2003 (Page 2 of 2)

IBM to Acquire CrossAccess Technology

IBM announced it has signed a definitive agreement to acquire the software assets of CrossAccess Corporation. The acquisition is expected to close later this month. Financial details were not disclosed. CrossAccess is a provider of infrastructure software that enables corporations to access information stored in mainframe databases and make it available for use with new business applications. The acquisition is meant to strengthen IBM’s enterprise information integration capabilities, a key strategic priority for its Data Management efforts and the company’s on demand computing initiatives. With CrossAccess technology integrated into DB2 Information Integrator software, IBM will be able to deliver a comprehensive enterprise information integration infrastructure. Once the acquisition is completed, IBM plans to integrate CrossAccess’ software assets and personnel into the Data Management Software group, narket and sell CrossAccess technology through the IBM sales force, and integrate CrossAccess technology into IBM’s DB2 Information Integrator software.

EMC to Acquire Documentum

EMC Corporation and Documentum, Inc. announced a definitive agreement for EMC to acquire Documentum in a stock transaction valued at approximately $1.7 billion. Documentum stockholders will receive 2.175 shares of EMC common stock for each share of Documentum common stock. Based upon the EMC closing stock price of $14.45 on October 13, 2003, the transaction is valued at approximately $1.7 billion. The acquisition is subject to customary closing conditions and is expected to be completed in the first quarter of calendar year 2004. When completed, EMC expects to take a charge in the quarter the transaction is closed for the value of Documentums in-process research and development costs and other integration expenses. Upon completion of the acquisition, EMC intends to operate Documentum as a software division of EMC headquartered in Pleasanton, California, led by Dave DeWalt, Documentum’s current CEO. Documentum’s sales, marketing and services will remain focused on selling and servicing Documentums products and solutions.,

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