For its ninth acquisition agreement in six months, Oakbrook Terrace, Illinois-based Platinum Technology Inc has gone for Altai Inc, Arlington, Texas developer of integrated automated operations software for open computing. Platinum has definitive agreement to pay about $23m in shares for Altai, with any adjustments that may be needed to ensure a price of $8.50 a share at closing, provided Platinum’s share price remains in the $13.16 and $20.16 range. Altai will become a wholly owned unit of Platinum. Altai’s Z/Team of products provide job scheduling, tape management, systems management and automation for multiple types of mainframes and open system. The company sees Altai, coupled with its Autosystems acquisition, giving it a strong position in the market for enterprise-wide scheduling and automation software, and it also likes Altai’s tape management line.
