Datawatch Corporation, a leader in the rapidly growing information services market space, announced that it has entered into a definitive agreement to acquire the products comprising the Integrated Document Archiving and Retrieval Systems (IDARS) business, including the company's e-mail management products from ClearStory Systems, Inc.

The acquisition will be an all-cash transaction of $4.3 million at close plus an earn-out, calculated by multiplying the net revenues derived from the product sales by 30 percent for the next 18 months. The transaction will be accounted for under the purchase method of accounting. The controlling stockholders of ClearStory Systems, Inc. have executed an irrevocable written consent, subject to mailing a stockholder Information Statement, and the transaction is expected to be completed in the company's third fiscal quarter of 2006.

Radiant BDS enables high-volume capture, storage, management and delivery of documents, reports, transaction file logs, document images and other forms of "fixed" content. Radiant BDS is able to capture print streams, desktop output, imaging files and voice. Its architecture is compatible with online, near-line and offline storage and can handle billions of documents and terabytes of content. Radiant BDS is designed for online statements for high-volume environments, such as financial services or health insurance. Its presentment capability can handle tens of thousands of concurrent users and deliver content to both the desktop and the internet user. Its email notification feature supports e-statements and other e-billing initiatives.

Radiant MailManager is an email active archiving solution that is designed for Microsoft Exchange Server environments. MailManager was released in April 2005 and is a highly scaleable email management platform that archives, retrieves, stores and manages the lifecycle (archive, migrate, shred) of corporate emails.

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