Scottsdale, Ariz., Dec. 6, 1999 SalesLogix Corporation, a leading provider of CRM and e-commerce software, announced it has signed a definitive agreement to acquire ACT!, the world's best selling contact manager, from Symantec Corporation. The transaction will significantly expand SalesLogix' share of the $11.5 billion customer relationship management (CRM) marketplace, adding an immediate estimated customer base of three million ACT! users. With the recently released ACT!2000 and its own SalesLogix solution, SalesLogix can now offer the leading sales automation brands for individual users and sales teams in organizations of any size.
The acquisition of ACT! a popular sales and contact management tool for small businesses, individual sales professionals and consultants is the latest move in SalesLogix' strategy to create Internet-based sales automation solutions that leverage e-business applications with dynamic content, commerce and community-building Web services.
Under the terms of the agreement, SalesLogix will acquire the ACT! product line, through a four-year exclusive license of ACT! and a purchase option at the end of the term, for an aggregate purchase price of $60 million (including royalties paid during the term), in cash, and common stock valued at $20 million. SalesLogix will take over the ACT! development, marketing and support functions and will continue to sell the ACT! product through its existing distribution channels. Upon commencement of the license, ACT! will become an independent line of business of SalesLogix and the company will expand its operations to three lines of business ACT!, SalesLogix and Interact.com. Closing of the transaction, which is subject to antitrust review and customary closing conditions, and commencement of the license is anticipated for early January.
For more information, visit www.saleslogix.com.
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