Mountain View, Calif., Dec. 13, 1999 Sagent Technology, Inc. announced that it has acquired Qualitative Marketing Software, Inc. (QMSoft), a privately held company that delivers real-time value-added customer information and marketing e-services. Together, the companies help e-businesses use the Web to better understand their prospects and customers, optimize revenue and profitability and maximize company effectiveness by combining valuable real- time customer marketing data with e-marketing expertise.
Under the terms of the agreement, Sagent will issue approximately 2.5 million shares of its common stock to the shareholders of QMSoft, giving the transaction a value of $70 million based on Sagent's closing price of $27.875 on December 10, 1999. The shares issued represent approximately 8.7 percent of Sagent's fully diluted shares outstanding. The transaction will be accounted for as a pooling of interests. The combined company has over 850 customers and more than 300 employees.
"Sagent provides a powerful platform for customers who rely on our real-time e-service offerings," said Paul Wray, president of QMSoft. "At the same time, QMSoft's value-added content enhances Sagent's current and future CRM offerings in retail banking, financial services, e-commerce, insurance and other markets."
"One of the most compelling aspects of this acquisition is that the two organizations are extremely complementary," said Ken Gardner, president and CEO of Sagent Technology, Inc. "Sagent offers a suite of Web-enabled CRM applications and a high performance platform, and QMSoft provides value-added customer data to help e-businesses target profitable customers in real time."
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