Web Ex Communications Inc., a provider of collaborative Web meeting applications, has announced that it has entered into a definitive agreement to acquire privately held Intranets.com of Burlington, Massachusetts. With more than 300,000 paying subscribers and 10,000 corporate sites, Intranets.com is a provider of asynchronous collaboration applications for small and medium-size businesses.
Under the terms of the agreement, Web Ex will pay approximately $45 million in cash, subject to certain adjustments, for Intranets.com, which will become a wholly owned subsidiary. The board of directors of each company has unanimously approved the acquisition. The acquisition, which is expected to close in the third quarter of 2005, is subject to customary closing conditions.