Vignette Acquires TOWER Technology Pty Ltd

Jan 23, 2004

Vignette Corp. has signed a definitive agreement to acquire TOWER Technology Pty Ltd, an enterprise document and records management vendor. The acquisition, when completed, will bring together Vignette's content management, collaboration, and portal solutions with TOWER Technology's integrated enterprise document and records management solutions in an effort to offer organizations a complete enterprise content management solution upon which to base and manage enterprise Web initiatives. Under the terms of the agreement with TOWER Technology, Vignette will pay $125 million, comprised of $45 million in cash and $80 million in Vignette stock; the stock portion of the transaction equates to approximately 29.8 million shares. The transaction is subject to customary closing conditions.

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