Geac, a global enterprise software company for business performance management, announced it has entered into a definitive merger agreement to acquire Comshare, Incorporated, a leading provider of corporate performance management software, for U.S. $52 million in cash, by way of a cash tender offer, to be followed by a cash merger. Under the terms of the definitive agreement, Comshare shareholders will receive U.S.$ 4.60 in cash for each share of Comshare common stock held, representing a 31 percent premium to Comshare's trailing 20-day average share price. This latest acquisition broadens Geac's suite of business performance management solutions with the addition of Comshare's MPC suite of planning, budgeting, forecasting, financial consolidation and management reporting and analysis solutions.

The Comshare acquisition follows the successful purchase of Extensity on March 6, 2003. Comshare's Board of Directors has unanimously approved the transaction and agreed to recommend that its shareholders accept it. Geac plans for the tender offer to close by August 2003 and expects the transaction to be accretive to earnings 90 days following completion of the merger as the business is integrated into existing Geac operations.

Register or login for access to this item and much more

All Information Management content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access