Hummingbird Announces Agreement to Acquire RedDot Solutions

Jun 24, 2005

Hummingbird Ltd., a provider of integrated enterprise content management solutions, has announced the acquisition of RedDot Solutions AG, a privately held provider of content management software. Hummingbird acquired the shares of RedDot Solutions for an initial cash consideration of Euro 39.1 million (US dollar 47.5 million) and an additional cash consideration estimated at approximately Euro 4.5 million (US dollar 5.5 million) payable after December 31, 2005, based upon performance targets. The acquisition intends to strengthen Hummingbird's position as a leader in the integrated Enterprise Content Management market segment.

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