Insightful Corporation Announces Agreement to Be Acquired By TIBCO
19 Giugno 2008 - 3:00PM
Business Wire
Insightful Corporation (NASDAQ:IFUL), a provider of predictive
analytics and reporting solutions, today announced that it has
signed a definitive agreement to be acquired by TIBCO Software Inc.
(NASDAQ:TIBX) in a transaction valued at approximately $25 million,
including the value of certain assumed options. Under the terms of
the agreement, following the closing, Insightful stockholders will
receive $1.87 in cash for each outstanding share of common stock
they own. This price represents a premium of 29% over the average
closing price of Insightful�s common stock over the sixty trading
day period ending on June 18, 2008, the last trading day before the
date of this announcement. The Board of Directors of Insightful has
unanimously approved the agreement and resolved to recommend that
Insightful stockholders approve the transaction. Completion of the
transaction is subject to stockholder approval and other customary
closing conditions. Certain Insightful directors, officers and
stockholders, representing approximately 22% of�Insightful's
outstanding common stock, have entered into voting agreements in
support of the acquisition. The transaction is expected to close in
the third quarter of 2008. "Our Board of Directors has evaluated
strategic alternatives for Insightful and has determined that this
outcome is in the best interests of our stockholders,� said Jeff
Coombs, President and CEO of Insightful Corporation. �Insightful�s
board of directors is pleased that the innovation and hard work of
our employees has been validated and will be extended by the
technology portfolio, domain expertise and market presence of
TIBCO.� �This merger is exciting news for Insightful customers,�
said Christopher Ahlberg, President of Spotfire, TIBCO�s enterprise
analytics division. �We are excited to complement their use of
Insightful products with TIBCO�s portfolio for business
optimization, including the Spotfire Enterprise Analytics platform,
and to help them disseminate statistical expertise more
pervasively.� After the closing, Insightful will become a
wholly-owned subsidiary of TIBCO and Insightful stock will cease
trading. RBC Capital Markets Corporation acted as exclusive
financial advisor to Insightful. Fenwick & West LLP acted as
legal advisor to Insightful. About Insightful Insightful
Corporation (NASDAQ:IFUL) is a provider of predictive analytics and
reporting solutions. Insightful products S-PLUS�, Insightful Miner�
and S-PLUS� Enterprise Server allow companies to perform
sophisticated statistical data analysis and data mining and create
high-quality graphics and reports. Insightful has been delivering
industry-leading, high-ROI solutions to thousands of companies in
financial services, life sciences, telecommunications, and
manufacturing, plus government and research institutions, for 20
years. Headquartered in Seattle, Insightful has offices in New
York, North Carolina, the United Kingdom, Switzerland, France and
Hong Kong, with distributors around the world. For more
information, visit www.insightful.com, email info@insightful.com or
call 1-800-569-0123. About TIBCO TIBCO digitized Wall Street in the
'80s with its event-driven "Information Bus" software, which helped
make real-time business a strategic differentiator in the '90s.
Today, TIBCO's infrastructure software gives customers the ability
to constantly innovate by connecting applications and data in a
service-oriented architecture, streamlining activities through
business process management, and giving people the information and
intelligence tools they need to make faster and smarter decisions,
what we call The Power of Now�. TIBCO serves more than 3,000
customers around the world with offices in more than 20 countries
and an ecosystem of over 200 partners. Learn more at www.TIBCO.com.
Securities Law Disclosure Insightful intends to file with the
Securities and Exchange Commission preliminary and definitive proxy
statements and other relevant materials in connection with the
merger. The proxy statement will be mailed to the stockholders of
Insightful. Before making any voting or investment decision with
respect to the merger, investors and stockholders of Insightful are
urged to read the proxy statement and the other relevant materials
when they become available because they will contain important
information about the merger, Insightful and TIBCO. Investors and
security holders may obtain free copies of these documents (when
they are available) and other documents filed with the Securities
and Exchange Commission (the �SEC�) at the SEC�s web site at
www.sec.gov. In addition, investors and security holders may obtain
free copies of the documents filed with the SEC by Insightful at
Insightful�s corporate website at www.insightful.com (under
Investors). Insightful and its officers and directors may be deemed
to be participants in the solicitation of proxies from Insightful
stockholders with respect to the acquisition. A description of any
interests that these officers and directors have in the acquisition
will be available in the proxy statement. Information concerning
Insightful�s directors and executive officers will be set forth in
Insightful�s proxy statement for its 2008 annual meeting of
stockholders. These documents are available free of charge at the
SEC�s web site at www.sec.gov or at Insightful�s corporate website
at www.insightful.com (under Investors).
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