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Content Management Merges on
2004-01-13 admin
Stellent has signed a merger agreement to acquire all outstanding shares of Optika Inc. an enterprise content management provider of imaging, business process management collaboration and records management software, for $10 million in cash, approximately 4.1 million shares of Stellent common stock and the assumption by Stellent of Optika's outstanding options.
Based on Stellent's stock price, the transaction currently is valued at approximately $59 million.
Combined with Stellent's Universal Content Management architecture, Optika's product line will enable Stellent to provide customers with a suite of solutions to manage both collaborative, consumption-oriented content as well as content generated and circulated during complex business transactions.
Stellent says Optika's software assets will bolster its own document imaging, business process management and compliance capabilities.
Optika's flagship Acorde software suite allows companies to manage content and streamline transactions related to business processes, such as accounts payable, claims processing and expense reporting.
With Optika customer base exceeding 2,000 Stellent will have a total of 3,500 customers
Optika President and CEO Mark K. Ruport will join Stellent as an executive vice president, and Alan Menkes, a current Optika board member, will join Stellent's board of directors.
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