Informix Corporation Stockholders Approve Sale of Database Business to IBM; Company to Change Name to Ascential Software
WESTBORO, Mass.--(BUSINESS WIRE)--June 8, 2001--Informix(R) Corporation (Nasdaq: IFMX), a technology leader for the new economy, today announced that its stockholders approved the sale of the assets of its database business, Informix Software, to IBM, as well as the renaming of the Company to Ascential Software Corporation during a special meeting held this morning.
Under the terms of the sale, the Company has agreed to sell all of the assets of the database business to IBM in an all cash transaction for $1 billion.
The Company's new name, Ascential Software Corporation, is expected to be effective upon the closing of the transaction. As previously announced, the transaction is expected to close during the third quarter of 2001.
In addition, the company indicated that it had purchased 6,060,000 shares of common stock at an average price of $4.94 pursuant to the stock repurchase program previously announced on April 26, 2001. The company confirmed that it will continue this buyback program subject to market conditions and its standard blackout policy that precludes purchase during the last four weeks of the quarter and extending through two days following release of quarterly results.
About Informix Corporation
Informix Corporation is comprised of two independent operating companies: Informix Software and Ascential Software.
About Informix Software
Informix Software, the database company, is a leading provider of database management systems for data warehousing, transaction processing and e-Business applications. With more than 100,000 customers worldwide, Informix Software delivers high-performance database systems in markets including retail, financial services, government, healthcare, manufacturing, media and publishing, and telecommunications. For more information, visit the Informix Web site www.informix.com.
About Ascential Software
Ascential Software is the leading provider of Information Asset Management solutions to the Global 2000. Customers use Ascential products to turn vast amounts of disparate, unrefined data into reusable information assets that drive business success. Ascential's unique framework for Information Asset Management enables customers to easily collect, validate, organize, administer and deliver information assets to realize more value from their enterprise data, reduce costs and increase profitability. Headquartered in Westboro, Mass., Ascential has offices worldwide and supports more than 1,800 customers in such industries as telecommunications, insurance, financial services, healthcare, media/entertainment and retail. Ascential is an independent operating company of Informix Corporation (NASDAQ: IFMX) and can be found on the Web at ascentialsoftware.com.
CONTACT:
Press Contact:
Shannon Stevens
Morgen-Walke Associates
(212) 850-5600
sstevens@morgenwalke.com
or
Investor Contacts:
David Roy
Informix Corporation
(508) 366-3888 x3290
david.roy@informix.com
or
Gordon McCoun/Stephanie Prince
Morgen-Walke Associates, Inc.
(212) 850-5600
gmccoun@morgenwalke.com
Sprince@morgenwalke.com
KEYWORD: MASSACHUSETTS
BW2166 JUN 08,2001
10:48 PACIFIC
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