Published: 09 September 2003
Analyst(s): Bruce Richardson, Colin Masson
On September 4, Ross Systems announced that it was being acquired by CDC Software Holdings, a wholly owned subsidiary of chinadotcom. Per the merger agreement, each shareholder will receive $5.00 in cash and $14.00 worth of chinadotcom shares. The merger is valued at $68.9M. This morning, CDC Software announced that it had acquired a 51% stake in Industri-Matematik International (IMI) from STG OMS Acquisition Corp., a wholly owned indirect subsidiary of Symphony Technology Group. The parent had purchased IMI last November for $11M. Under the terms of the agreement, CDC Software purchased a 51% share of the holding company, with the balance held by Symphony. CDC Software will invest $25M in the holding company and has agreed to provide up to $25M in additional funding.
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