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.
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