DataMirror Agrees To Purchase Assets Of Constellar
Corporation
TORONTO, CANADA--
Acquisition Expected to Build DataMirror's Presence in the Oracle
community
DataMirror Corporation (TSE: DMC), a leading provider of
e-Business data integration and resiliency solutions, today
announced it has entered into an asset purchase agreement to
acquire the assets and to assume certain of the liabilities of
Constellar Corporation of Redwood Shores, California and its
subsidiaries. The transaction is valued at approximately $15
million. The purchase is subject to certain closing conditions.
Constellar has pioneered the development of enterprise application
integration (EAI) software and has been working for 12 years with
major organizations in the financial services, utilities and
telecommunications industries worldwide to help integrate their
enterprise-wide applications, business processes and departmental
functions. Customers of Constellar include Citibank, General
Electric, ScottishPower, London Stock Exchange and Readers Digest.
Constellar's EAI software ensures that companies' application data
is available to any other application - supplier, customer, or
internal user - to create integrated end-to-end e-business
solutions without the need for costly and hard-to-maintain
hand-coded links. It includes pre-built interfaces to major ERP
packages such as SAP, Oracle and PeopleSoft.
DataMirror expects to integrate Constellar Hub, a leading Oracle
based Enterprise Application Integration tool, with DataMirror's
complete family of Transformation Server real-time data
integration tools, to provide customers in the Oracle economy with
a completely integrated end-to-end solution.
"Through the acquisition of Constellar's technology, DataMirror
will strengthen its presence in the global Oracle economy," said
Nigel Stokes, Chairman, President and CEO of DataMirror. "We plan
to headquarter our US operations out of Constellar's offices in
Redwood Shores California."
"The Constellar team is extremely pleased to be joining forces
with DataMirror," says Lee Tate, Chairman of the Board of
Constellar. "We are optimistic that the combination of the
DataMirror and Constellar teams will create new market offerings
and synergies for both businesses."
Terms of the Transaction
Under the terms of the asset purchase agreement, DataMirror will
acquire Constellar's assets and assume or discharge certain
liabilities in a cash transaction for approximately $15 million.
Certain payments are contingent on future operations of the
acquired business. DataMirror will account for the acquisition
under the purchase method.
The transaction has been approved by the board of directors of
both companies. Subject to satisfaction of a number of other
closing conditions, the transaction is expected to close in late
September 2000.
Constellar has over 40 employees based in its head office in
Redwood Shores, California, and in offices in other US locations,
London, England and Paris, France.
About Constellar
Constellar Corporation is a pioneer in the Enterprise Application
Integration (EAI) industry, successfully delivering real EAI
solutions for nearly 12 years. Today, Constellar is at work in
over 200 installations at more than 60 major global organizations,
including Citibank, General Electric, Sprint, US WEST Long
Distance, ScottishPower, London Stock Exchange, and Deutsche Bank.
Using Constellar solutions, customers are able to implement highly
scalable network- wide data and application architectures for
e-business applications including e-commerce, Customer
Relationship Management (CRM), data warehouses, and ERP.
Constellar has its headquarters in Redwood Shores, Calif. with
field offices throughout the U.S. and in Europe. For more
information visit constellar.com.
About DataMirror Corporation
DataMirror (TSE: DMC) delivers solutions that let customers
integrate their data for competitive insight and e-Business
resiliency. DataMirror's comprehensive family of products includes
advanced real-time capture, transform and flow (CTF) technology,
that gives customers the instant access, integration and
availability they demand today, across all computers in their
business.
Over 1,100 customers rely on DataMirror software to gain
competitive advantage and to provide a reliable, continuous,
instant flow of information across their business. DataMirror is
headquartered in Toronto, Canada, and has offices worldwide.
DataMirror has been recognized by PROFIT Magazine as the fastest
growing Software Company in Canada. For more information, call
1-800-362-5955 or visit the DataMirror web site at
www.datamirror.com.
"Safe Harbor" Statement under the United States Private Securities
Litigation Reform Act of 1995: Forward-looking statements in this
press release, including statements regarding DataMirror
Corporation's business which are not historical facts, are made
pursuant to the "safe harbor" provisions of the United States
Private Securities Litigation Reform Act of 1995. Investors are
cautioned that such forward-looking statements involve risks and
uncertainties which could cause actual results to differ from
those forward-looking statements. For a discussion of such risks
and uncertainties, please see DataMirror Corporation's periodic
filings with the United States Securities and Exchange Commission
and other regulatory authorities.
Copyright 2000 DataMirror Corporation. All rights reserved.
DataMirror, Transformation Server, and High Availability Suite are
registered trademarks or trademarks of DataMirror Corporation. All
other brand or product names are trademarks or registered
trademarks of their respective companies. |
