Pervasive buying Data Junction
- 12 August, 2003 08:00
Embedded database vendor Pervasive Software Inc. plans to acquire Data Junction Corp., a data and application company, for approximately US$51.7 million in cash and stock, Pervasive said on Monday.
Through the acquisition, Pervasive gets access to data integration and transformation technologies to complement Pervasive's data management offerings. Data Junction's primary products include Data Junction Integration Studio, which features a set of visual design tools for building and testing data integration processes that work with numerous data formats and applications, Pervasive said.
Following the completion of the acquisition, Pervasive will continue to focus on data management solutions offering performance, reliability, and low total cost of ownership, the company said. The combined vendor will serve more than 35,000 customers in 150 countries. Pervasive sells the Pervasive.SQL database.
Pervasive will pay out US$22.1 million in cash and 5 million shares of Pervasive common stock, priced at US$5.91 each, on Aug. 8. Boards of directors of companies have approved the acquisition, which is now subject to approvals of shareholders of the two vendors. Votes are expected this fall.
Data Junction will become a wholly owned subsidiary of Pervasive.