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Technology Deals NetIQ to be acquired by AttachmateWRQ
Technology Deals NetIQ to be acquired by AttachmateWRQ | NetIQ to be acquired by AttachmateWRQ |
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| by Stan Beer | |
| Sunday, 30 April 2006 | |
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AttachmateWRQ is owned by an investment group led by Golden Gate Capital, Francisco Partners 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. Together, AttachmateWRQ and NetIQ comprise a $400 million company, serving over 40,000 customers in over 60 countries, with near complete market penetration of the Global 10,000. “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 maximise 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.
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