Novell acquires Web services company

Novell Monday announced that it would acquire Silverstream Software to boost its presence in the rapidly developing Web services market.

The networking software giant will pay US$212 million in cash, 9 cents a SilverStream share.

Analysts have said that Novell needs to acquire an application server platform to give itself credibility in the nascent Web services market.

SilverStream's J2EE-based products include an Application Server and Web Services engine that let them build cross-platform applications, including a messaging platform. The company's Integration server lets IT developers connect via XML to back-end legacy systems and manage business processes. The company's Interacton and Portal Server product lets them build business applications and portals.

The deal, which has been approved by the Board of Directors of both companies, is expected to close as soon as July.

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