Interwoven Announces Stockholder Approval of the iManage Merger Interwoven, Inc., provider of an integrated enterprise content management platform, announced that, at separate special meetings, stockholders approved the merger of Interwoven and iManage.
The merger was completed as of the close of NASDAQ trading November 18, 2003. As previously announced, factoring in the reverse stock split discussed below, iManage stockholders will receive $1.20 in cash (without interest) and 0.523575 of a share of Interwoven common stock for each share of iManage common stock they own, with cash paid in lieu of any fractional share of Interwoven common stock which otherwise would be issued to the iManage stockholders.
Effective with today's merger close, iManage chief financial officer John Calonico has joined Interwoven's executive team as senior vice president of finance, and will assume the position of chief financial officer in the first quarter of 2004. Additionally, iManage chief technology officer Rafiq Mohammadi assumes the new role of senior vice president of engineering and CTO. Together with Jack Jia, current senior vice president and CTO at Interwoven, they will form the "Office of the CTO."
Also effective today, Mahmood Panjwani, president and chief executive officer of iManage, joined the Interwoven Board of Directors and was appointed Vice Chairman of the Board of Directors at Interwoven. Bob L. Corey, a former member of the iManage Board of Directors, also joined the Interwoven Board.
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