Vignette Corp. has announced the signing of a definitive agreement to acquire privately held Epicentric Inc., a provider of business portal solutions. This acquisition brings together business portal solutions and content management applications in an effort to deliver a powerful foundation for enterprise Web applications. This new application model is intended to help deliver improved speed, collaboration, productivity, efficiency, and service. It requires a standards-based computing platform that spans functional silos, leverages existing enterprise assets, manages information from multiple sources and optimizes interactions with every user. The combination of Vignette and Epicentric technologies is designed to help fulfill these requirements and provide a unified foundation for managing both information and user interactions in real time. Vignette will integrate Epicentric's portal technologies with its content management solution, enabling customers to work with a single vendor for the technologies required to build and deploy business applications for the Web. In addition to lowering risk and decreasing deployment, maintenance, and integration costs, the Epicentric acquisition will enhance the Vignette foundation with a number of portal-based services such as security, central role management, presentation management, and targeted content delivery. Under the terms of the agreement, Vignette will pay up to $32 million in cash and restricted stock for Epicentric. Shareholders representing a majority of the Epicentric shares have agreed to vote in favor of and have executed voting agreements approving the transaction. The acquisition is expected to close in December 2002 and is subject to customary closing conditions. Based on an existing partnership between Epicentric and Vignette, customers may immediately purchase and deploy integrated solutions from both companies. Vignette's recently announced Vignette V7 products will be generally available in December 2002, with full Epicentric support for Vignette V7 slated for the first quarter of 2003.