Freemarkets
Recent Events
On January 13, 2004, we completed the acquisition of Alliente, Inc.("Alliente"), a privately held company headquartered in Colorado Springs,Colorado. Alliente provides procurement outsourcing services to companies basedon Ariba technology. The total purchase price is estimated at approximately$10.2 million consisting of cash payments of $9 million, $200,000 of acquisitioncosts and approximately $1.0 million of assumed liabilities.
On January 23, 2004, we announced a definitive agreement (the "Agreement") toacquire FreeMarkets, Inc. ("FreeMarkets"), a publicly held company headquarteredin Pittsburgh, Pennsylvania. FreeMarkets provides companies with software,services and information for global supply management. Under the terms of theAgreement, stockholders of FreeMarkets will receive 2.25 shares of our commonstock and $2.00 cash for each outstanding share of FreeMarkets common stock. Thetransaction is subject to customary closing conditions, including regulatoryreview and approval by the stockholders of each company, and is targeted toclose in the latter part of our third fiscal quarter.
On April 15, 2004, we completed the acquisition of Softface, Inc. ("Softface"),a privately held company headquartered in Walnut Creek, California. Softface isa spending performance management company. The total purchase price is estimatedat approximately $8.0 million, consisting primarily of cash. |
