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News > Deals
WebMethods in $1.3B buy
May 22, 2000: 7:23 a.m. ET

Enterprise software firm announces all-stock buyout of Active Software
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NEW YORK (CNNfn) - Software developer webMethods Inc. announced plans Monday to buy Active Software Inc. in a $1.3 billion all-stock deal.

The company said in a statement that it plans to swap about 13.6 million of its shares for all the stock of Active Software, which also makes business software.

graphicWebMethods chief executive Phillip Merrick will take the helm as chief executive of the combined company, while Active Software CEO Jim Green is slated to be chief technology officer and executive vice president, the company said.

The deal would bring together two software companies with different strengths. WebMethods participates more in the business-to-business market, developing software that allows trading partners to buy and sell auto parts online, for example, while Active Software focuses on linking software withone one company - an accounting application with a management application, for instance.

With its acquisition of Active Software, webMethods wants to offer "one-stop shopping" for corporate network and Internet software, a person familiar with the company was quoted as saying in Monday's Wall Street Journal, which first reported news of the deal.

The stock prices of the two companies ended mixed Friday, with webMethods (WEBM: Research, Estimates) off 7-7/8 to 87 - well off its 52-week high of 336-1/4 -- while Active Software  (ASWX: Research, Estimates) added 9/16 to 33, sharply below its 52-week high of 149-1/8. Back to top

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