Software AG

ots Ad hoc-Service: Software AG Software AG to acquire SAGA Systems Inc. for USD 360 million

Ad hoc-announcement edited and sent by DGAP. The sender is solely responsible for the contents of this announcement. ---------------------------------------------------- Darmstadt (ots Ad hoc-Service) - Software AG and SAGA Systems Inc. (SAGA) announced today that Software AG will acquire all outstanding common stock in SAGA Systems for USD 11.50 per SAGA Systems share in cash, for a total transaction value of approximately USD 360 million. SAGA's markets and services Software AG's products in North and South America, Japan and Israel. In addition, SAGA Systems licenses and services its own enterprise application integration product, Sagavista. SAGA Systems is headquartered in Reston, Virginia, U.S.A. and employs nearly 800 people. In the 12 months ended 30 September, 2000, SAGA Systems had revenues of USD196 million. Highlights . Software AG is to acquire SAGA Systems Inc. for USD 11.50 per share in cash . Software AG acquires significant direct distribution channel in North and South America, Japan and Israel . Software AG gains direct access to North American blue chip customer base of over 1500 customers including many medium and large corporations and government agencies . Following acquisition, North American operation expected to account for some 40% of worldwide license and maintenance revenue and provide strong platform for substantial Electronic Business products growth . Acquisition expected to be highly accretive to Software AG's earnings in 2001 and thereafter, excluding one-time costs . Expected closure in Q1 2001 Further details will be announced on November 2, 2000, 10:00am CET, at a press conference, Arabella Sheraton Grand Hotel, Konrad-Adenauer-Str. 7, 60313 Frankfurt, Germany, or are available at www.softwareag.com (from November 2, 2000, 10:00am CET on). End ----------------------------------------------------- Internet: http://recherche.newsaktuell.de Original-Content von: Software AG, übermittelt durch news aktuell

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