DataMirror, a leading provider of live, on-demand data integration and protection solutions, today announced that it has entered into an agreement and plan of merger (the “Agreement”) to acquire one hundred percent control of PointBase, Inc. The transaction, which is conditional upon certain closing conditions, is expected to close in the next 30 days.
PointBase is a leading provider of nano footprint, Java-based relational database and synchronization solutions designed to lead the industry’s move toward software that delivers on the promise of platform independence. PointBase’s proven trio of offerings PointBase Embedded, PointBase Micro and PointBase UniSync provide effective Java-based data storage, enterprise mobility and data synchronization with corporate databases.
PointBase technology is currently being used by leading software providers and companies including BEA, Checkmate International, Extensity, Leadscope, Macromedia, Raytheon and Sun Microsystems. With the implementation of PointBase technology, these companies have gained numerous business benefits including application mobility, reduced total cost of ownership, increased developer productivity, accelerated product release, increased customer satisfaction, and greater customer ROI.
Under the terms of the Agreement, a wholly owned DataMirror subsidiary will merge with PointBase in a cash transaction. DataMirror will pay approximately $3.5 million at closing, and certain additional amounts may become payable contingent on future revenue or proceeds that may be received in connection with the acquired business. DataMirror will account for the acquisition under the purchase method. Beyond enhancing service for the existing important PointBase customers, DataMirror will be focusing the PointBase technology to expand its existing wireless data capture solutions for bar-code and RFID applications and also on new data synchronization solutions for the handheld marketplace. The transaction has been approved by the board of directors of both companies. Subject to satisfaction of a number of closing conditions, the transaction is expected to close in December 2003.
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