Menlo Park, Calif. and Westboro, Mass., Dec. 1, 1999-- Informix, a technology leader in the software infrastructure for the i.Economy, and Ardent Software, a leading provider of data integration infrastructure software for data warehouse, business intelligence and e-business applications, announced that they have reached a definitive agreement to combine their operations in a transaction valued, on a fully diluted basis, at approximately $880 million based on the closing price of Informix common stock on November 30, 1999. The combination accelerates the strategies of both companies and creates a $1 billion market leader in open software infrastructure for the i.Economy.
Under terms of the agreement, which was unanimously approved by the Boards of Directors of both companies, 3.5 shares of Informix common stock will be exchanged for each outstanding Ardent share, and Informix will assume all outstanding Ardent options. The transaction is expected to be accounted for as a pooling of interests and to be accretive to Informix's earnings per share in 2000, excluding non-recurring, transaction-related costs. The transaction will be treated as a tax-free reorganization for Ardent shareholders. Completion of the transaction, which is subject to the approval of stockholders of both companies and customary regulatory reviews, is expected to occur in the first quarter of 2000.
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