Beaverton, Ore., July 12, 1999 - IBM and Sequent Computer Systems announced they have entered into a merger agreement, which brings together hardware and software technologies. IBM will pay $18 in cash for each outstanding share of Sequent common stock. The transaction, when completed, is expected to have a total equity value of about $810 million. IBM plans to begin selling Sequent's product line worldwide immediately following completion of the merger. IBM will integrate Sequent technologies into IBM products and Sequent will benefit from IBM's technological, manufacturing and global sales power.
As a result of the merger, IBM will market and sell Sequent's NUMA-Q 1000 and 2000 using IBM's worldwide sales force; IBM will enable its business partner network to market and sell Sequent's current products; the IBM and Sequent development teams will accelerate their work on Project Monterey; IBM's servers will incorporate Sequent's NUMBA technology; and IBM will provide middleware support for Sequent's current product line.
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