i2 and Aspect Development Merger Clears FTC and SEC Hurdles
Shareholder Vote Set for June 8, 2000 to Approve Merger
Supplybase Acquisition Completed
DALLAS, and MOUNTAIN VIEW, Calif., May 3 /PRNewswire/ --
i2 Technologies, Inc. (Nasdaq: ITWO) and
Aspect Development, Inc. (Nasdaq: ASDV) today announced that two major
barriers have been removed in completing the proposed acquisition of Aspect by
i2, originally announced on March 13, 2000. The Federal Trade Commission
granted early termination of the waiting period under the Hart-Scott-Rodino
Antitrust Improvements Act, effectively lending its approval to the
acquisition. Likewise, the SEC notified the companies of a "no review"
decision with respect to the registration statement filed by i2 on
April 18, clearing the way for shareholders to vote on the proposed
acquisition. There are no other regulatory approvals anticipated.
Under the terms of the proposed stock-for-stock transaction, i2 seeks to
acquire all of the outstanding stock and stock options of Aspect Development,
with each outstanding share of Aspect to be exchanged for .55 share of i2
common stock. The proposed transaction will now proceed toward obtaining
approval of the stockholders of each company. Owners of i2 Technologies that
were shareholders of record on April 14, 2000 will have the opportunity to
vote their shares on June 8, 2000. Owners of Aspect Development stock that
were shareholders of record on May 1, 2000 will have the opportunity to vote
their shares also on June 8, 2000.
Combining the strengths of the two companies, i2's TradeMatrix(TM)
business-to-business (B2B) e-marketplace solution will be significantly
expanded with Aspect's best-of-breed e-commerce content, product design
collaboration and direct procurement capabilities. Once the merger is
completed, the company estimates the combined revenues of i2 and Aspect in the
year 2000 will make it one of the largest providers of software and content
for B2B e-marketplaces. With 4,000 employees and a research and development
budget of nearly $1 million per business day, the combined company has a
comprehensive base of technology and expertise to meet customers' needs and
expectations.
In a related development, i2 also announced the completion of the
acquisition of Supplybase, Inc. which was originally announced along with the
acquisition of Aspect Development. Supplybase, a leading provider of
solutions for Web-based product design and sourcing of custom parts and
assemblies, brings additional content and capabilities to i2's TradeMatrix.
Supplybase currently delivers content about more than 100,000 suppliers. |
