Portals eNewsletters Web Seminars dataWarehouse.com DM Review Magazine
DM Review | Covering Business Intelligence, Integration & Analytics
   Covering Business Intelligence, Integration & Analytics Advanced Search
advertisement

RESOURCE PORTALS
View all Portals

WEB SEMINARS
Scheduled Events

RESEARCH VAULT
White Paper Library
Research Papers

CAREERZONE
View Job Listings
Post a job

Advertisement

INFORMATION CENTER
DM Review Home
Newsletters
Current Magazine Issue
Magazine Archives
Online Columnists
Ask the Experts
Industry News
Search DM Review

GENERAL RESOURCES
Bookstore
Buyer's Guide
Glossary
Industry Events Calendar
Monthly Product Guides
Software Demo Lab
Vendor Listings

DM REVIEW
About Us
Press Releases
Awards
Advertising/Media Kit
Reprints
Magazine Subscriptions
Editorial Calendar
Contact Us
Customer Service

Progress Software Corporation Commences Tender Offer to Acquire NEON Systems

    Online News published in DMReview.com
January 3, 2006

Progress Software Corporation, a global supplier of application infrastructure software used to develop, deploy, integrate and manage business applications,  announced that it has commenced, through its wholly owned subsidiary Noble Acquisition Corp., a cash tender offer to purchase all of the outstanding shares of common stock of NEON Systems, Inc., a leader in mainframe integration.

The tender offer is being made pursuant to the previously announced definitive merger agreement between Progress and NEON dated December 19, 2005. Upon the closing of the tender offer, NEON stockholders will receive $6.20 in cash for each share of NEON common stock tendered. Following the purchase of shares in the tender offer, Noble Acquisition Corp. and NEON will merge, and NEON will become a wholly owned subsidiary of Progress. Owners of NEON shares not purchased in the tender offer will be entitled to receive $6.20 per share in cash in the merger. Upon the closing of the transaction, NEON will become part of DataDirect Technologies, the software industry leader in standards-based data connectivity and an operating unit of Progress Software Corporation.

Progress today has filed with the Securities and Exchange Commission a tender offer statement on Schedule TO setting forth in detail the terms of the tender offer. NEON today has filed with the Commission a solicitation/recommendation statement on Schedule 14D-9 setting forth, among other things, the recommendation of NEON's board of directors that NEON stockholders accept the tender offer and tender their shares pursuant to the tender offer, as well as the conclusion of NEON's board of directors that the merger agreement and the transactions contemplated thereby (including the tender offer and the merger) are advisable and are fair to and in the best interests of NEON and NEON's stockholders.

The tender offer will expire at 12:00 midnight on January 27, 2006, unless extended in accordance with the merger agreement and the applicable regulations of the Securities and Exchange Commission. Consummation of the tender offer is subject to customary conditions, including the tender of a majority of the shares of common stock of NEON, termination or expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, and other customary conditions. The holders of approximately 44 percent of NEON's outstanding common stock, including its executive officers, directors and John J. Moores, have agreed to support the transaction and to tender their shares in the tender offer, subject to the terms of their voting and tender agreements.

...............................................................................

For more information on related topics visit the following related portals...
Data Integration.

This piece has been brought to you by the DM Review Editorial staff.

Solutions Marketplace
Provided by IndustryBrains

Data Validation Tools: FREE Trial
Protect against fraud, waste and excess marketing costs by cleaning your customer database of inaccurate, incomplete or undeliverable addresses. Add on phone check, name parsing and geo-coding as needed. FREE trial of Data Quality dev tools here.

Recover SQL Server or Exchange in minutes
FREE WHITE PAPER. Recover SQL Server, Exchange or NTFS data within minutes with TimeSpring?s continuous data protection (CDP) software. No protection gaps, no scheduling requirements, no backup related slowdowns and no backup windows to manage.

Manage Data Center from Virtually Anywhere!
Learn how SecureLinx remote IT management products can quickly and easily give you the ability to securely manage data center equipment (servers, switches, routers, telecom equipment) from anywhere, at any time... even if the network is down.

Design Databases with ER/Studio: Free Trial
ER/Studio delivers next-generation data modeling. Multiple, distinct physical models based on a single logical model give you the tools you need to manage complex database environments and critical metadata in an intuitive user interface.

Free EII Buyer's Guide
Understand EII - Trends. Tech. Apps. Calculate ROI. Download Now.

Click here to advertise in this space


E-mail This Online News E-Mail This Online News
Printer Friendly Version Printer-Friendly Version
Related Content Related Content
Request Reprints Request Reprints
Advertisement
advertisement
Site Map Terms of Use Privacy Policy
SourceMedia (c) 2006 DM Review and SourceMedia, Inc. All rights reserved.
SourceMedia is an Investcorp company.
Use, duplication, or sale of this service, or data contained herein, is strictly prohibited.