Mergers and Acquistions News
Categories: IT Services & Consulting
October 20th 2008, 16:57PM
Digital delivery services firm Intraware Incorporated of Orinda, California is to be purchased by business solutions provider Acresso Software, according to an announcement made today (Monday October 20th).
The two entities have entered into a definitive acquisition agreement, under which Acresso will take over Intraware for a price of $4 (£2.32) a share.
Mark Bishof, Acresso's chief executive and president, said that the deal will be beneficial for customers of both companies, which include the likes of IBM, Progress Software and Mentor Graphics.
"Along with its technology, Intraware has deep expertise in software-as-a-service application management," he remarked.
"Combining these with Acresso's financial and market strengths will greatly benefit Acresso's customers and Intraware's customers."
Acresso is perhaps best known as the company currently behind InstallShield, the wizard used to install software on Microsoft Windows.
It was formed by private equity firm Thoma Cressey Bravo, which acquired InstallShield from Macrovision earlier this year.
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