BEA Closes Acquisition of Plumtree Software; Creates Multi-platform Portal Leader
October 20 2005 - 7:30PM
PR Newswire (US)
Combined Portal Portfolios Offer Leading Portal, Collaboration and
Composite Application Capabilities Across Multiple Platforms and
Application Servers SAN JOSE, Calif., Oct. 20
/PRNewswire-FirstCall/ -- BEA Systems, Inc. (NASDAQ:BEAS) today
announced it has closed its acquisition of Plumtree Software, Inc.
(NASDAQ:PLUM). Plumtree Software provides enterprise portal
solutions to connect disparate work groups, IT systems and business
processes. Its portfolio features the industry's only
cross-platform portal, running on both J2EE and .Net. By combining
the Plumtree and BEA portal portfolios, BEA will be providing the
most open and comprehensive solutions for empowering customers to
leverage portal technologies as part of their Service-Oriented
Architecture (SOA) while being free to choose how best to
mix-and-match applications servers, operating systems, development
environments and programming languages to meet their business need.
BEA is one of the only companies to provide this level of openness,
platform independence and choice to customers. "The portal is
becoming the point of integration in the enterprise," said Alfred
Chuang, chairman and chief executive officer, BEA Systems, Inc.
"Plumtree is a leader in the market for collaborative portals that
enhance enterprise connectivity and productivity. BEA is a leader
in high-volume, transactional portals for customer and partner
interaction as well as internal operations. Today, BEA provides the
most complete portal portfolio that spans J2EE and .Net, providing
a balanced perspective or view within the enterprise on both the
people and operational side of the business." For approximately USD
$204 million, BEA acquired all of the outstanding common stock and
vested options of Plumtree in exchange for USD $5.50 per share in
cash for the outstanding common shares and USD $5.50 per share less
the exercise price for the vested options. In addition, all
outstanding unvested options to purchase Plumtree common stock were
automatically converted into options to purchase approximately 1.8
million shares of BEA common stock. The acquisition was approved by
the Plumtree's stockholders at a meeting held on October 20, 2005.
Effective immediately, Plumtree will become a key part of BEA and
the Plumtree ticker symbol, PLUM, will be removed from NASDAQ
listing before tomorrow's opening of market. As part of the close
of the transaction, Plumtree is a new BEA product unit led by BEA
Chief Technology Officer and Executive Vice President, Mark Carges.
"Customers are seeking cross-platform connectivity and productivity
technologies to help them collaborate and build their
service-oriented architecture solutions," said Carges. "Today, BEA
can provide the most complete portal portfolio for all composite
application and portal enterprise requirements." For more
information, visit bea.com/aqualogic. About BEA Systems, Inc. BEA
Systems, Inc. is a world leader in enterprise infrastructure
software, providing standards-based platforms to accelerate the
secure flow of information and services. BEA product lines --
WebLogic(R), Tuxedo(R), and the new AquaLogic(TM) family of Service
Infrastructure -- help customers reduce IT complexity and
successfully deploy Service-Oriented Architectures to improve
business agility and efficiency. For more information, please visit
at bea.com. Legal Notice Regarding Forward-Looking Statements
Statements that are not of historical fact are forward-looking
statements, including any statements regarding the plans, goals,
strategies, focus, opportunities and objectives for our future
operations, business or markets. Statements that include the use of
terminology such as "may," "will," "expects," "plans,"
"anticipates," "estimates," "continue," "predict," "growth,"
"investment," "commitment" or other comparable terminology, are
also forward-looking statements. This press release includes
forward looking statements that involve risks and uncertainties,
including statements regarding the statement that by combining
Plumtree and BEA portal portfolios, BEA will be providing the most
open and comprehensive solutions for empowering customers to
leverage portal technologies and the statement that the BEA can
provide the most complete portal portfolio for all composite
application and portal enterprise requirements. Risks,
uncertainties and assumptions include the risk that the benefits of
BEA's acquisition of Plumtree will not be achieved or will take
longer than expected, the risk that customers will delay, defer or
cancel orders in response to the merger and other risks that are
described from time to time in BEA Systems' Securities and Exchange
Commission reports (including, but not limited to those factors
detailed the section entitled "Risk Factors That May Impact Future
Operating Results" on pages 32 through 45 of BEA's report on Form
10-Q for the fiscal quarter ended July 31, 2005, and similar
disclosures in subsequent BEA SEC filings). If any of these risks
or uncertainties materializes or any of these assumptions proves
incorrect, BEA's results could differ materially from BEA's
expectations in these statements. Forward looking statements and
risk factors are made as of information available to BEA today. BEA
disclaims any obligation to update these forward looking
statements. NOTE: BEA, Built on BEA, Jolt, Joltbeans, Steelthread,
Top End, Tuxedo, BEA WebLogic Server, BEA Liquid Data for WebLogic,
and WebLogic are registered trademarks of BEA Systems, Inc. BEA
AquaLogic, BEA AquaLogic Data Services Platform, BEA AquaLogic
Enterprise Security, BEA AquaLogic Service Bus, BEA dev2dev
Subscriptions, BEA eLink, BEA MessageQ, BEA WebLogic Communications
Platform, BEA WebLogic Enterprise, BEA WebLogic Enterprise
Platform, BEA WebLogic Enterprise Security, BEA WebLogic Express,
BEA WebLogic Integration, BEA WebLogic Java Adapter for Mainframe,
BEA WebLogic JDriver, BEA WebLogic Log Central, BEA WebLogic
Network Gatekeeper, BEA WebLogic Platform, BEA WebLogic Portal, BEA
JRockit, BEA WebLogic SIP Server, BEA WebLogic WorkGroup Edition,
and BEA WebLogic Workshop are trademarks of BEA Systems, Inc. BEA
Mission Critical Support is a service mark of BEA Systems, Inc. All
other company and product names may be the subject of intellectual
property rights reserved by third parties. For More Information:
+1-408-570-8004 http://www.bea.com/news DATASOURCE: BEA Systems,
Inc. CONTACT: May Petry, +1-408-570-8704, or , or Nadina Talukdar,
+1-408-570-8421, or , both of BEA Systems, Inc. Web site:
http://www.bea.com/
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