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Technology Stocks : WebMethods,Inc. (WEBM)

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From: Glenn Petersen	4/5/2007 6:21:07 PM
	of 161

Software AG Buys WebMethods for $546M Thursday April 5, 8:00 am ET Germany's Software AG to Buy Business Software Developer WebMethods for $546 Million in Cash NEW YORK (AP) -- German database applications and business software company Software AG said Thursday it agreed to buy WebMethods Inc. for $546 million via a cash tender offer, in a move to double its customer base in North America to more than 4,000 organizations. Fairfax, Va.-based WebMethods develops business software. The $9.15-per-share purchase price represents a 26 percent premium to the stock's closing price of $7.28 on Wednesday. Software AG said the acquisition is a major step in its plan to more than double revenue to $1.3 billion. The company said it expects the deal to add strongly to operating earnings starting in 2008. The transaction has been approved by both companies' boards, and is expected to close during the second quarter, subject to customary closing conditions, including regulatory approvals. Shares of Webmethods jumped $1.72, or 24 percent, to $9 in premarket trading. For fiscal 2006, the company earned $18 million on sales of $208.8 million. biz.yahoo.com

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