Exact Software, one of the world's leading providers of business software solutions and Longview Solutions, a leading provider of corporate performance management (CPM) software solutions, jointly announced the signing of an agreement for Exact to acquire Longview.This strategic acquisition will strengthen Exact's business empowerment software portfolio by adding Longview's powerful CPM platform, and will accelerate Exact's expansion into the higher end of the midmarket. In turn, Longview will benefit from Exact's financial strength and geographic footprint as it continues to deliver best-in-class CPM software and services to the enterprise market and further expands into the midmarket.
The planned acquisition contemplates an all-cash purchase price of approximately $51.5 million on a cash-free and debt-free basis, representing a revenue multiple of 1.8. The acquisition is expected to enhance Exact's cash EPS from the beginning, but will have limited impact on Exact's net result in 2007 due to the transaction date. The transaction is subject to customary closing conditions and is expected to close on or before November 15, 2007.
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