ots Ad hoc-Service: Software AG <DE0007242646> Software AG acquires SAGA Systems Inc.
Darmstadt (ots Ad hoc-Service) -
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Effective February 1, 2001, Software AG, Darmstadt, Germany, has acquired all shares of the American software house, SAGA Systems, Inc., Reston, Virginia. The merger agreement, which was concluded in November 2000, was approved by SAGA's stockholders at an extraordinary stockholders' meeting on February 1, 2001. Each stockholder will receive 11.50 USD per share in cash. The acquisition has taken place through the merger of one of Software AG's subsidiaries, which was established for this reason, and SAGA Systems, Inc. Following the stockholders' meeting, the merger was filed with the competent authorities thereby becoming legally effective. At the same time, SAGA's stock was withdrawn from trading on the New York Stock Exchange, which means that, effective immediately, SAGA Systems, Inc.'s stock is no longer listed on the stock exchange.
Software AG will announce further details at a press conference in Frankfurt am Main on February 5. Software AG stock is listed in the MDAX index at the German Stock Exchange in Frankfurt (securities registration number 724 264; Reuters SOW4). SAGA Systems, Inc., was listed at the NYSE (AGS).
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