Attachmate to acquire NetIQ

AttachmateWRQ signed a definitive agreement today to acquie NetIQ.

AttachmateWRQ, the result of the merging of Attachmate Corp and WRQ Inc in 2005, is owned by an investment group led by Golden Gate Capital, Francisco Partners and Thoma Cressey Equity Partners. Upon completion of the acquisition, NetIQ will operate as an AttachmateWRQ business unit and will no longer be publicly traded.

Together, AttachmateWRQ and NetIQ comprise a $400 million company, serving more than 40,000 customers in some 60 countries, and claims a near-complete market penetration of the Global 10,000.

"The combination of AttachmateWRQ and NetIQ creates a formidable enterprise software company with greater resources and scale," said Jeff Hawn, chairman, president and CEO at AttachmateWRQ. "Together, we are well positioned to better serve our combined customer base with more products and resources than ever before."

"Today's announcement is a great outcome for NetIQ and its shareholders," added Chuck Boesenberg, chairman and CEO of NetIQ. "The board and management team of NetIQ determined, after a detailed review of all alternatives, that the best option to maximize shareholder value and to better execute on NetIQ's strategy is through an acquisition by AttachmateWRQ."

The transaction has been unanimously approved by the boards of directors of both companies and is expected to close in about 90 days, subject to customary closing conditions, including approval by NetIQ shareholders and regulatory approvals.

Morgan Stanley advised the board of directors of NetIQ and provided a fairness opinion to it in connection with the transaction. Credit Suisse advised the board of directors of AttachmateWRQ.

NetIQ provides integrated systems and security management solutions and AttachmateWRQ is provides multi-host access, integration, security and desktop management.

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