Broadvision (BVSN) will issue approximately 5.6 million shares of its common stock to pay for the purchase. The companies expect to close the transaction by May 31, though it is subject to Interleaf (LEAF) shareholder approval.
With the acquisition, Broadvision will gain control of Interleaf's e-content company, a division dedicated/'>dedicated to development, marketing and sale of eXtensible Markup Language (XML)-based content management tools for Web and wireless applications.
The use of XML-based wireless applications is growing. GartnerGroup estimates that by 2003, 80 percent of application-to-application traffic passing over public networks will be in XML.
BroadVision will combine its One-To-One personalized e-business applications with Interleaf's XML-based e-content management tools to create a comprehensive suite of offerings for companies looking to do business over the Web and with wireless devices. Features will include the ability to automate B2B e-commerce through intelligent content as well as faster, less expensive e-content management, said Pehong Chen, president, chief executive officer and chairman of BroadVision.
"Through the acquisition of Interleaf, BroadVision will be able to quickly
expand our leadership in delivering
personalized e-business solutions for Web and wireless applications," said
Chen. "With our combined
customer base of more than 2,500 blue-chip and 'dot.com' companies, both
firms have the proven ability to
meet e-business demands for a fast time-to-market, easier integration with
content sources and back-end
systems, and high performance and scalability."
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