Seattle, Washington and San Jose, California (ots/PRNewswire) -
- Acquisition Strengthens AttachmateWRQ's Leadership Position in
AttachmateWRQ and NetIQ Corporation (Nasdaq: NTIQ) today announced
the signing of a definitive agreement under which NetIQ will be
acquired by AttachmateWRQ. Under terms of the agreement,
AttachmateWRQ has agreed to pay US$12.20 per share in cash to NetIQ
shareholders. Based on the number of shares of NetIQ common stock and
common stock options outstanding on April 27, 2006, the transaction
is valued at approximately US$495 million.
AttachmateWRQ, the result of the merging of Attachmate Corp. and
WRQ, Inc. in 2005, is owned by an investment group led by Francisco
Partners, Golden Gate Capital and Thoma Cressey Equity Partners. Upon
completion of the acquisition, NetIQ will operate as an AttachmateWRQ
business unit and will no longer be publicly traded.
This acquisition brings together two leading companies with
complementary strategic visions and technology, and a shared
commitment to customer satisfaction. Together, AttachmateWRQ and
NetIQ comprise a US$400 million company, serving over 40,000
customers in over 60 countries, with near complete market penetration
of the Global 10,000. AttachmateWRQ, with NetIQ, is uniquely prepared
to provide mission-critical enterprise software that enables
customers to extend, manage and secure their IT infrastructures.
"The combination of AttachmateWRQ and NetIQ creates a formidable
enterprise software company with greater resources and scale," said
Jeff Hawn, chairman, president and CEO at AttachmateWRQ. "Together,
we are well-positioned to better serve our combined customer base
with more products and resources than ever before."
"Today's announcement is a great outcome for NetIQ and its
shareholders," added Chuck Boesenberg, chairman and CEO of NetIQ.
"The board and management team of NetIQ determined, after a detailed
review of all alternatives, that the best option to maximize
shareholder value and to better execute on NetIQ's strategy is
through an acquisition by AttachmateWRQ."
The transaction has been unanimously approved by the boards of
directors of both companies and is expected to close in approximately
90 days, subject to customary closing conditions, including approval
by NetIQ shareholders and regulatory approvals.
Morgan Stanley advised the board of directors of NetIQ and
provided a fairness opinion to it in connection with the transaction.
Credit Suisse advised the board of directors of AttachmateWRQ.
NetIQ provides integrated systems and security management
solutions that empower IT organizations with the knowledge and
ability necessary to assure IT service. AttachmateWRQ is a leader in
multi-host access, integration, security and desktop management.
AttachmateWRQ focuses on extending more information, to more
people, in the most secure and manageable way possible. The leader in
multi-host access and integration, the company enables organizations
to maximize the value of their existing IT investments as they
advance their long-term business and IT strategies. AttachmateWRQ
serves over 40,000 customers in nearly 60 countries worldwide. For
more information, visit www.attachmatewrq.com.
NetIQ is a leading provider of integrated systems and security
management solutions that empower IT organizations with the knowledge
and ability necessary to assure IT service. NetIQ's Knowledge-Based
Service Assurance products and solutions include embedded knowledge
and tools to implement industry best practices and to better ensure
operational integrity, manage service levels and risk, and ensure
policy compliance. NetIQ's modular, best-of-breed solutions for
Performance & Availability Management, Security Management,
Configuration & Vulnerability Management, and Operational Change
Control integrate through an open, service-oriented architecture
allowing for common reporting, analytics and dashboards. For more
information about NetIQ, visit www.netiq.com or call (888)-323-6768.
NetIQ will file a proxy statement and other documents regarding
the proposed transaction described in this press release with the
Securities and Exchange Commission. Investors and shareholders are
urged to read the proxy statement and such other materials when they
become available because they will contain important information
about NetIQ and the proposed transaction. A definitive proxy
statement will be sent to shareholders of NetIQ seeking their
approval of the transaction. In addition to the proxy statement,
NetIQ files annual, quarterly, and special reports, proxy statement
and other information with the Securities and Exchange Commission.
Investors and security holders may obtain a free copy of the proxy
statement and any other documents filed by NetIQ free of charge at
the Securities and Exchange Commission's Web site at
NetIQ's directors and executive officers may be deemed, under
Securities and Exchange Commission rules, to be participants in the
solicitation of proxies from the NetIQ shareholders in connection
with the proposed transaction. Information about NetIQ's directors
and officers can be found in NetIQ's Proxy Statements and Annual
Reports on Form 10-K filed with the SEC. Additional information
regarding the interests of those persons may be obtained by reading
the proxy statement and other documents regarding the proposed
transaction when they become available.
Copyright (c) 2006 Attachmate Corporation. All Rights Reserved.
AttachmateWRQ, the AttachmateWRQ logo, Attachmate and WRQ are either
registered trademarks or trademarks of Attachmate Corporation, in the
USA and other countries. All other trademarks, trade names, or
company names referenced herein are used for identification only and
are the property of their respective owners.
Copyright (c) 2006 NetIQ Corporation. All Rights Reserved. NetIQ
and the NetIQ logo are either registered trademarks or trademarks of
NetIQ Corporation, in the USA and other countries. All other
trademarks, trade names, or company names referenced herein are used
for identification only and are the property of their respective
ots Originaltext: AttachmateWRQ and NetIQ
Im Internet recherchierbar: http://www.presseportal.ch
AttachmateWRQ Public Relations, Susanne Smith,
email@example.com, +1-206-301-6655, NetIQ Public Relations,
Patricia Morley, firstname.lastname@example.org, +1-713-418-5782, NetIQ
Investor Relations, Greg Klaben, email@example.com,