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Technology Stocks : Software.com, Inc. (SWCM)
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To: Peter Speyer who wrote (112)8/9/2000 4:43:35 AM
From: Michael P. Michaud  Read Replies (2) of 142
 
Well, we are getting bot out! Comments anyone?

<<<Software.com, Phone.com to merge in stock deal
NEW YORK, Aug 9 (Reuters) - Internet software companies Phone.com Inc. (NasdaqNM:PHCM - news) and Software.com Inc. (NasdaqNM:SWCM - news) said on Wednesday they would merge in a multi-billion dollars all-share deal to create a leader in the wireless and communications industry.

The merged company will be led by former Cisco Systems (NasdaqNM:CSCO - news) executive Don Listman as chief executive officer, the companies said.

Under terms of the transaction, Software.com shareholders will get 1.6105 Phone.com shares for each Software.com share held, valuing the deal for Software shareholders at around $6.8 billion or $125.70 a share, according to Tuesday's closing prices.

Phone.com shares closed Tuesday at 78-1/16, off a year high of 208 but up from a low of 27-1/2. Software.com shares closed at 107-3/4, off a high of 155.

As of June 30, Software.com had about 54.38 million shares outstanding, according to quarterly filings.

Once closed, shareholders of both companies will own about 50 percent of the merged company. The deal has been approved by both companies boards but must be cleared by shareholders. Phone.com and Software.com say they expect the transaction to close by the end of the year. >>>
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