Business Objects announced on July 9, 2002, a definitive agreement to acquire privately held Acta Technology, Inc. of Mountain View, California, a leading data integration vendor. The acquisition will provide Business Objects with a comprehensive enterprise analytic platform (EAP) for the delivery of custom-developed and prepackaged analytic applications. Business Objects will have a best-of-breed enterprise analytic platform, where both the business intelligence and data integration components are comprised of industry-leading technology.
The acquisition is a cash transaction of approximately $65 million for all shares of Acta Technology and will be accounted for under the purchase method of accounting. Business Objects expects the acquisition to be completed during the third quarter of 2002. The acquisition has been approved by the board of directors of each company and is subject to regulatory approval and customary closing conditions.
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