EMC Corporation and Captiva Software Corporation announced a definitive agreement for EMC to acquire Captiva. EMC will pay $22.25 per share in cash, or approximately $275 million net of Captiva’s cash balance. The transaction is subject to regulatory and Captiva stockholder approval, and is expected to be completed in either late 2005 or early 2006. Upon completion of the acquisition, EMC expects to take a charge of approximately $15 million to $20 million for the value of Captiva’s in-process research and development costs. Excluding this charge, the transaction is not expected to impact EPS in the first full year of operation. Captiva focuses on the early stages of information lifecycle management – information capture, digitization and categorization. In addition to tighter integration with Captiva, EMC will continue to develop Captiva software as an open platform as it does with all EMC multi-platform software, including the underlying content management platform. http://www.emc.com,

Share