Despite hot denials from the company, it has been clear, as we revealed in June (CI No 1,465), that Ingres Corp has been for sale for some time now, and yesterday the buyer was revealed as manufacturing software specialist Ask Computer Systems Inc, which is being bankrolled for the purchase by the ubiquitous Electronic Data Systems Corp, and by one of thecompanies most widely tipped as the outright buyer of Ingres, Hewlett-Packard Co. The Alameda, California relational database software company has agreed definitively to be acquired by Ask for $9.25 a share cash or $110m all told. A substantial part of the money – $60m is coming from Electronic Data Systems and Hewlett-Packard, which have agreed to pay $10.78 a share, a 15% premium to the market price for new Ask shares to give the General Motors subsidiary 19.7% of the enlarged Ask equity and Hewlett 10%. Ask founder and chief executive Sandra Kurtzig, reckons that By combining Ask’s application expertise, Ingres’ tools and database leadership, and our partners’ worldwide systems integration capabilities, and computers, the company will have the ability to implement global enterprise-wide systems. The consolidation of Ask and Ingres would result in combined revenue approaching $400m, up in the Novell Inc range. Ingres says it has worked closely with Ask, especially in the last year, and it’s clear that we have compatible strategies and a common vision in the open systems, multi-vendor market – in February Ask announced its use of Ingres tools and database products to develop a new generation manufacturing information system for open, networked computing (CI Nos 1,234, 1,362). Ingres is promised more effective positioning of its products and stronger marketing and sales programmes. Ask has a commitment from Chase Manhattan Bank for the financing necessary to complete the offer.
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