IT Mergers & Acquisitions

QAD Inc., a global provider of enterprise software and services, today announced that it has acquired Duluth, Georgia-based FBO Systems, Inc., a provider of Enterprise Asset Management (EAM) products and professional services. Approximately 70% of the all-cash purchase price consideration will be paid within 90 days of the November 3, 2006 close date, with the remaining 30%, subject to certain performance criteria, expected to be paid over a three-year period. The total net purchase price is expected to be approximately $4 million. FBOS’ Chief Executive Officer and co-Founder, Bo Hagler, has been named Director of the Enterprise Asset Management Product Unit at QAD.

Continue reading QAD Inc. Acquires FBO Systems, Inc….

HP today announced that it has completed its tender offer for Mercury Interactive Corp., one of the leader in Business Technology Optimization (BTO) software and services.

HP’s tender offer for all of the outstanding shares of Mercury expired at midnight, New York City time, on November 1, 2006. As of that time, approximately 85.7 million shares, representing approximately 96 percent of Mercury’s outstanding shares, were tendered and not withdrawn in the offer (including shares tendered by notice of guaranteed delivery). HP has accepted for payment all tendered shares.

The completion of the tender offer is the first step in HP’s two-step acquisition of Mercury. The second and final step, the merger of Mercury with an HP subsidiary, is expected to occur within the next several days.