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Divine Inc. and Viant Sign Definitive Merger Agreement
CHICAGO – April 5, 2001 – Divine, inc. (Nasdaq: DVIN), a provider of solutions for the extended enterprise, and Viant Corporation (Nasdaq: VIAN), a provider of digital business solutions, announced today that they have entered into an agreement under which divine will acquire Viant in a stock-for-stock transaction.
Under the agreement's terms, divine will acquire all outstanding Viant common stock for about 200m shares of divine’s Class A common stock. divine will pay 3.977 shares of its stock for each Viant share.
The agreement also contemplates Viant paying a $24m cash dividend to its stockholders prior to close.
"Viant’s expertise in deploying collaborative technology solutions that enable knowledge sharing with customers, partners and employees represents a perfect strategic fit with divine’s solutions for the extended enterprise," said Andrew "Flip" Filipowski, chairman and chief executive officer of Divine.
"In addition, Viant provides Divine with a significant new consulting presence in the Northeast, as well as great talent and a legacy of long-term client relationships."
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