CIMdata PLM Industry Summary Online Archive
13 March 2006
Acquisitions
Versata To Acquire Artemis International Solutions Corporation
Artemis International Solutions Corporation, a provider of Investment Planning and Control solutions and a vendor in the emerging market for Product Portfolio Management applications, announced it has entered into a merger agreement with a wholly-owned subsidiary of Trilogy, Inc., in a transaction valued at approximately $27 million. The agreement provides for the payment of $1.60 per share to holders of Artemis' common stock and $2.20 per share to the holders of Series A Preferred Stock of Artemis, which represents their liquidation value. On completion of the merger, Artemis will become part of Trilogy's recently announced Versata group, a leading provider of business rules, configuration and pricing management systems. The transaction is subject to the approval of the stockholders of Artemis, with a meeting expected to be held in May.
Artemis' successful solutions and global positioning are expected to become powerful additions to Versata's offering. Artemis has led the way in the development of Enterprise Portfolio, Project and Resource management software products on a worldwide basis since 1976. It also believes it has successfully positioned itself to take advantage of the convergence of the fast growing Product Life Cycle Management (PLM) and Product Portfolio Management (PPM) markets - a class of software applications used by all type of manufacturing companies, from automotive to high-tech and consumer goods.
"With our presence in 44 countries and up to 80 percent of our revenues derived from outside the United States, Artemis International Solutions will provide an expanded global platform for Versata, primarily in Europe and secondarily in Asia," Patrick Ternier, President and CEO of Artemis said. "Our product suite will position Versata in one of the fastest growing enterprise application markets, and will bring diversity and added power to Versata's high-value enterprise software offerings. We look forward to joining Versata's team of excellent people and products."
"Versata welcomes the bold global vision Artemis can bring to our enterprise solutions," said Randall Jacops, General Manager of Versata. "Artemis' excellent product and project management solutions will dovetail perfectly not only with our current product offerings, but also with our extended strategy to provide a strong environment of value and success for our customers."
Trilogy announced last week the transfer of its enterprise software business to the Versata group, which will operate as a separate business unit enabling Trilogy to focus exclusively on its strategic, high growth Internet Value Services ("vServices") business.
About Versata
Versata provides solutions for automating and simplifying the building, maintenance and ongoing evolution of large, complex, data-intensive enterprise applications. The Versata solution effectively and efficiently replaces time-intensive hand-coding efforts with simple, intuitive business rules and graphical process flow specifications. Further information is available at http://www.versata.com .
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