Reuters March 26, 2000 posted 2:45pm PST
MOUNTAIN VIEW, Calif. (Reuters) - OpenTV Corp. (OPTV.O) (OPTV.AS), which makes software for digital interactive television, said Sunday it will buy Internet consultant and software provider SpyGlass Inc. (SPYG.O) for about $2.5 billion in stock, or just over $122 per SpyGlass share.
Under the terms of the tax-free deal, Spyglass stockholders will receive 0.7236 OpenTV Series A ordinary shares in exchange for each Spyglass common share, OpenTV said in a statement.
Based on OpenTV's closing stock price on March 24, the transaction values Naperville, Ill-based Spyglass at $122.28 per share, an about 75 percent premium to Spyglass' closing price of 69-7/8 on Friday.
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