Thread, SAP & ILOGY
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Tuesday June 30, 6:12 pm Eastern Time
Company Press Release
SAP AG Invests $10.5 Million in ILOG S.A.
PARIS--(BUSINESS WIRE)--June 30, 1998--ILOG S.A. (NASDAQ NMS: ILOGY - news), a leading provider of advanced software components, today announced that SAP AG, market and technology leader in client/server enterprise application software, has made a $10.5 million investment in ILOG, which represents 4.999% of the issued share capital of ILOG. The intention of SAP to invest in ILOG was announced in a joint press release on April 23, 1998. The investment follows an ILOG shareholders' meeting held yesterday at which the investment was approved. SAP has purchased 685,064 new shares in ILOG at $15.3125 per share for a total consideration of $10,490,042. The shares issued to SAP have not been registered under the United States Securities Act of 1933.
''The SAP investment in ILOG reinforces ILOG's position as the leading supplier of optimization components,'' said Edouard Efira, Executive Vice President of ILOG. ''ILOG is pleased that SAP has selected ILOG components to be a key part of its new SAP Advanced Planner & Optimizer (APO). The investment confirms that ILOG is a strategic partner of SAP.''
''The SAP Advanced Planner & Optimizer attracted a great deal of attention at SAPPHIRE Madrid, where more than 8,000 customers and partners gathered. ILOG contributes a wealth of expertise in advanced planning and scheduling. ILOG optimization components play an integral role in the development of the SAP APO. We have decided to invest in the company to strengthen our relationship with ILOG,'' said Dr. Claus Heinrich, SAP AG Executive Board Member responsible for development of the new SAP APO product.
Ibexx
(long both SAP
& ILOGY)
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