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WebMethods to Acquire Active Software

May 23, 2000|Reuters

WebMethods Inc., a maker of software for business-to-business electronic commerce, said it will buy Active Software Inc. in a stock swap worth $1.3 billion based on Friday's closing prices. The acquisition would put WebMethods at the forefront of providers of software that allow a company's internal systems to mesh together and to work efficiently with the systems used by their customers and suppliers, analysts said. The deal values Santa Clara, Calif.-based Active Software, a maker of electronic business infrastructure software, at about $45.85 a share, a hefty premium to its closing stock price of $33 on Friday. Fairfax, Va.-based WebMethods tumbled $15, or 17%, to close at $72 on Nasdaq, reducing the value of the deal to about $1.08 billion. Active Software fell 94 cents to close at $32.06 on Nasdaq.

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