Ascential Software Corporation Completes Acquisition of Mercator Software, Inc.
Friday September 12, 9:00 am ET
Creates the Largest Independent Provider of Enterprise Data Integration Software Solutions
WESTBORO, Mass., Sept. 12 /PRNewswire-FirstCall/ -- Ascential Software Corporation (Nasdaq: ASCL - News), the enterprise data integration leader, announced that it has completed the acquisition of Mercator Software, Inc. (formerly Nasdaq: MCTR).
"The acquisition of Mercator further expands Ascential's Enterprise Data Integration Suite and creates the industry's first and most comprehensive data integration product set for transactional, operational and analytical requirements, regardless of data volumes or latency. This uniquely enables our customers to apply data integration solutions pervasively throughout the enterprise," said Peter Gyenes, Chairman and CEO of Ascential Software.
"All operations of Mercator will be immediately integrated within Ascential's operations. With our combined technologies, distribution channels, partnerships, geographic coverage, and skill sets, Ascential Software becomes the largest independent enterprise data integration software company with current annualized revenues of approximately $250 million and more than 3,000 customers."
"Mercator's offerings are widely recognized for their ability to address high-performance, real-time, complex data transformation and routing requirements in transaction oriented environments, and are therefore a natural complement to Ascential's enterprise data integration products," said Pete Fiore, Ascential Software president. "Our enthusiasm for this combination is supported by positive reactions from industry analysts, media, customers, and partners, increasing our market visibility and further building upon Ascential's leadership in enterprise data integration software solutions. Our substantial scale, financial strength and global resources provide the critical mass to increase innovation, customer value and service, while accelerating our opportunities for growth in market share and profitability. We continue to expect this acquisition to be accretive to our earnings within the first year of combined operations, as a result of cost synergies, cross-selling opportunities and new revenue streams resulting from the addition of complementary products, channels, and geographic presence."
About the Transaction
Approximately 32.7 million shares of Mercator common stock, or 89.8% of the outstanding shares, were tendered in the tender offer, which expired Thursday September 11th at 5:00 p.m. (Eastern Daylight Time). The tendered shares, including 245,116 shares subject to guaranteed delivery, were accepted for payment and will be purchased for $3.00 per share in accordance with the terms of the offer. Payment for the shares purchased, as well as those shares tendered by guaranteed delivery will, upon delivery of those shares and other required documentation, be made promptly by the Bank of New York, the depositary for the offer.
Following the purchase of the tendered shares, Ascential, through its wholly owned subsidiary, exercised an option granted to it by Mercator for 19.99% of the then-outstanding common stock. As a result of the purchase of the shares and the exercise of the option, Ascential's subsidiary owned more than 90% of the outstanding shares of Mercator and effected a short-form merger with Mercator. NASDAQ has notified Ascential it will cease trading of Mercator shares immediately.
Each outstanding Mercator share not tendered has been converted into the right to receive $3.00 in cash, without interest. Ascential intends to promptly send holders of such shares information regarding payment of the merger consideration or the exercise of their appraisal rights. Mercator stockholders who hold their shares through a broker will be receiving such information from their broker.
About Ascential Software
Ascential Software Corporation is the leading provider of enterprise data integration solutions to organizations worldwide. Customers use the Ascential Enterprise Integration Suite to integrate and leverage data across all transactional, operational, and analytical applications with confidence in the accuracy, completeness and timeliness of critical information. Ascential Software's powerful data profiling, data quality, data transformation, parallel processing, meta data and connectivity solutions enable customers to reduce total cost of ownership and increase return on IT investment. Headquartered in Westborough, Mass., Ascential Software has offices worldwide and supports more than 3,000 customers in such industries as financial services, telecommunications, healthcare, life sciences, manufacturing, consumer goods, retail, and government. More information on Ascential Software can be found on the Web at www.ascential.com.
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