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Another breakout day.
More good news:
TIBCO Software Completes InConcert Acquisition
TIBCO Fortifies Leadership Position in Telecommunications Market With
the Addition of Customers AT&T, Sprint, Qwest Communications, Level 3
Communications and NextLink
PALO ALTO, Calif., Nov. 8 /PRNewswire/ -- TIBCO Software Inc. (Nasdaq:
TIBX - news), a leading provider of real-time infrastructure software
for the Internet and enterprise, today announced it has completed the
acquisition of InConcert, Inc., a subsidiary of Xerox Corporation (NYSE:
XRX - news) and a developer of software solutions for telecommunications
companies.
The acquisition extends TIBCO's product line, creating a new breed of
infrastructure software for the telecommunications industry. This
capability will allow service providers to automate internal business
processes and streamline computer systems, such as customer service,
billing and network management systems.
``The marriage of TIBCO and InConcert is very strategic in that service
providers can now address their daily operations needs by working with
one infrastructure solution that can flexibly support the integration of
both internal systems and business processes,' said Karl Whitelock,
program director of Stratecast Partners' OSS Competitive Strategies
Analysis Service in Denver. ``The 'new' TIBCO enables service providers
to solve their internal business process and systems integration issues
that often result from business change and new service introductions,
while at the same time helping these organizations to support new
process needs as they get more involved with the Application Service
Provider (ASP) market.'
``To compete in the 21st century, telecommunications companies need a
single software infrastructure for service provisioning and billing,'
said Vivek Ranadive, chairman and CEO of TIBCO Software. ``The
acquisition of InConcert reaffirms TIBCO's commitment to the
telecommunications industry, and provides it with a very powerful
infrastructure and process management software solution.'
``Telia currently benefits from the use of both TIBCO and InConcert
software,' said Torkel Norda, vice president and chief information
officer of Telia AB. ``The combination of InConcert's process automation
technology with TIBCO's infrastructure software represents an ideal
solution for telecommunications companies.'
About the Transaction
The acquisition will be accounted for under the purchase method of
accounting. TIBCO is in the process of evaluating the allocation of the
purchase price to the assets to be acquired, which will include
in-process technology, that will be written off in the fourth quarter of
fiscal 1999, and goodwill, which will be amortized over the benefit
period.
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