04.10.2005 06:00:00
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Business Objects Expands Business Intelligence Market Opportunity; Announces Plans to Acquire Leading Information Visualization Technology
The acquisition will be an all-cash transaction of approximately$40 million US and will be accounted for under the purchase method ofaccounting. The transaction is expected to be accretive to BusinessObjects on both a US GAAP and pro forma basis beginning in 2006. Theacquisition is subject to regulatory approvals and other customaryclosing conditions, and is expected to be completed in the fourthquarter of 2005.
Founded in 2002, Infommersion develops and markets industryleading information visualization and presentation software thatenables individuals and businesses to access, analyze, and sharecritical data in a manner previously unachievable -- visually,interactively, and in real-time. Infommersion's patent-pendingtechnology gives executives, analysts, and educators the power to turncomplex and confusing data into clear, engaging presentations forPowerPoint, Acrobat PDF, and the web. Based in San Diego, California,the Infommersion team combines talent from traditionally unrelatedindustries such as interactive entertainment, information technology,multimedia development, and business intelligence. This variety ofexpertise has allowed Infommersion to design and delivergroundbreaking interactive data presentation software products. Formore information on Infommersion, go to www.infommersion.com.
"The acquisition of Infommersion adds another chapter in BusinessObjects' long history of delivering innovative products that enableusers to gain the most value from their corporate information," saidJohn Schwarz, chief executive officer of Business Objects. "Ourpatented semantic layer gave business users a way to access corporatedata that helped to catapult Business Objects into the leadershipposition in the fast-growing business intelligence market. Similarly,we believe the acquisition of Infommersion will allow us to bringvisual innovation to business users in ways never seen before."
"Infommersion pioneered interactive information visualizationsoftware, building a large, satisfied customer base and receivingtremendous industry recognition," said Santiago Becerra, chiefexecutive officer of Infommersion, Inc. "By joining Business Objects,we believe we will be able to give customers the best that thebusiness intelligence industry can offer. Infommersion management andemployees look forward to making an immediate positive impact,reinforcing Business Objects' position as the world's leading providerof business intelligence solutions."
About Business Objects
Business Objects is the world's leading business intelligence (BI)software company. With more than 30,000 customers worldwide, includingover 80 percent of the Fortune 500, Business Objects helpsorganizations gain better insight into their business, improvedecision making, and optimize enterprise performance. The company'sbusiness intelligence platform, BusinessObjects(TM) XI, offers the BIindustry's most advanced and complete platform for performancemanagement, planning, reporting, query and analysis, and dataintegration. BusinessObjects XI includes Crystal Reports(R), theindustry standard for enterprise reporting. Business Objects has alsobuilt the industry's strongest and most diverse partner community, andthe company offers consulting and education services to help customerseffectively deploy their business intelligence projects.
Business Objects has dual headquarters in San Jose, Calif., andParis, France. The company's stock is traded on both the Nasdaq (BOBJ)and Euronext Paris (ISIN: FR0004026250 - BOB) stock exchanges. Moreinformation about Business Objects can be found atwww.businessobjects.com.
Forward-Looking Statements
This press release contains forward-looking statements thatinvolve risks and uncertainties concerning Infommersion's products,the anticipated benefits of Infommersion's products to users ofinformation visualization software as well as to Business Objects'position within the business intelligence solutions market, BusinessObjects' ability to provide innovative information visualizationsolutions, the closing of the transaction and the impact of thetransaction on Business Objects' financial results. Actual events orresults may differ materially from those described in this documentdue to a number of risks and uncertainties. These potential risks anduncertainties include, among others, Business Objects' ability toattract and retain customer support for, and to generate revenuesfrom, newly acquired products; Business Objects' ability to realizeother financial benefits from the proposed acquisition of Infommersionand to strengthen its position in the business intelligence market;the ability of the parties to complete the proposed transaction;fluctuations in Business Objects' quarterly operating results; changesto current accounting policies which could have a significant, adverseimpact upon Business Objects' financial results; the introduction ofnew products by competitors or the entry of new competitors intomarkets for Business Objects' products; the impact of pricing ofcompeting technologies; Business Objects' reliance on selling productsin only the business intelligence software market; and economic andpolitical conditions in the United States and abroad. More informationabout potential factors that could affect Business Objects' businessand financial results is included in Business Objects' Form 10-Q forthe quarter ended June 30, 2005 and Business Objects' Amendment No.1to its Registration Statement on Form S-3 filed with the SEC on August10, 2005, each of which are available at the SEC's website atwww.sec.gov. Business Objects is not obligated to update theseforward-looking statements to reflect events or circumstances afterthe date of this press release.
Business Objects and the Business Objects logo are trademarks orregistered trademarks of Business Objects S.A. or its affiliatedcompanies in the United States and/or other countries. All other namesmentioned herein may be trademarks of their respective owners.
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