By Suzanna Kerridge, 22 October 1999 15:17
NEWS NetManage, the PC connectivity company, has acquired PC-to-host software specialist, Wall Data, in a cash tender deal worth $94m. NetManage said the two companies would combine their technologies and concentrate on the ecommerce and ebusiness areas. The company also said it wanted the deal to increase its presence in the desktop hosting connectivity, thin-client-to-host, and web-to-host markets. NetManage will buy all outstanding Wall Data shares for $9 each. The cash tender is expected to start on 27 October on condition of more than 51 per cent of the outstanding Wall Data stock is included in the tender. Following completion of the agreement, Zvi Alon will retain position of president and CEO at NetManage.
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