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Strategies & Market Trends : Anthony @ Equity Investigations, Dear Anthony, -- Ignore unavailable to you. Want to Upgrade?

To: heronwater who wrote (31649)	4/21/1999 10:54:00 AM
From: Mama Bear	Read Replies (1) \| Respond to of 122087

TAVA buyout at 8 per share is what I've heard. I'm still trying to verify. Barb

To: heronwater who wrote (31649)	4/21/1999 10:58:00 AM
From: Probart	Read Replies (1) \| Respond to of 122087

TAVA news HUGE!! Real Software/Tava Technologies -2: To Acquire 100% BRUSSELS (Dow Jones)--Belgian software servicing and products company Real Software NV (B.REA) said Wednesday that it will launch a friendly bid to acquire 100% of Nasdaq-listed U.S. information technology company Tava Technologies (TAVA). Real Software will offer $8 per ordinary Tava share, which is a premium of 54% on the average closing price over the last 20 business days. The total amount of the transaction amounts to $190 million. The offer will start after approval from the U.S. Security & Exchange Commission, and the transaction is expected to be completed by the end of June. Following the acquisition, Tava would be delisted from the Nasdaq stock market. "It's the biggest acquisition ever done (by Real Software.) It's the basis to make a home market of the U.S., which offers the same products and services as in Belgium," Real Software Chairman Rudy Hageman said at a Brussels-based press conference. "We have now a complete coverage of the U.S. market," he added. Hageman said that U.S. sales will increase to more than 40% of the company's total sales by the end of 1999. Currently 21% of Real Software's sales is generated in the U.S., mainly through it's unit INC Group. Continues To Look For Acquisitions Tava's management will reinvest 50% of the proceeds of the bid. After reinvestment they will own 4% of Tava, down from the current 8%, and Real Software will own 96%. In the first half of fiscal 1999, from July to December 1998, Tava's sales doubled to $49.7 million. The company's net profit for the year ended June 1998 reached BEF385 million (EUR1=BEF40.3399). Hageman said the acquisition will be partially funded by a EUR100 million capital increase in March and partially by long-term loans. He said it will contribute to earnings this year. When asked if Real Software, which is listed on the Brussels stock market, plans to list on Nasdaq, Hageman said: "We have no plans for a listing in the U.S. as long as the Belgian capital market supports Real Software. It's better to be number one in Belgium than to be one of the 200 on Nasdaq." Hageman, however, didn't exclude that "in four, five to six years," Real Software might consider a listing on Nasdaq. Meanwhile, Hageman said that Real Software will continue to look for acquisitions in France, the U.K., Luxembourg and Switzerland. "We have to strengthen our position in the medium-sized market in France," Hageman said. -By Nancy Nackaerts; 32-2-285-0137; nnackaerts@ap.org (END) DOW JONES NEWS 04-21-99 10:46 AM