Vignette Completes Acquisition Of Epicentric

Dec 06, 2002

Vignette Corp. has completed its acquisition of San Francisco-based Epicentric Inc. By offering Epicentric's family of portal solutions in addition to its content management products, Vignette intends to help its customers achieve competitive advantage by rapidly building and deploying enterprise Web applications. The combination of Vignette and Epicentric technologies enable organizations to build and deploy Web applications that leverage virtually every electronic asset regardless of where it is stored and deliver it in the context of any user's needs. Under the terms of the agreement announced on Oct. 29, 2002, Vignette paid $26 million in cash for outstanding Epicentric stock and may pay up to $6 million in a combination of cash and restricted stock for retention-related payments over the next two years. Michael Crosno, chairman, president and CEO of Epicentric, has joined the Vignette leadership team as executive vice president of worldwide operations.