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November 14, 1995

INTERSOLV BUYS TECHGNOSIS FOR 3.4M SHARES, $7.5m CASH, TO EXPAND ITS DATA WAREHOUSE PRODUCTS

By CBR Staff Writer

Atlanta-based Intersolv Corp, which is keen to move from its Open Database Connectivity bastion to a full set of analysis and design tools, decided to buy Duffel, Belgium-based TechGnosis International Inc to broaden its virtual data warehouse offering. Under the terms of the acquisition, Intersolv gets TechGnosis for 3.4m shares of common stock and $7.5m in cash (CI No 2,777). The transaction is valued at about $80m, with Intersolv expecting to incur one-time charges of $12m to $15m in the quarter ending October 31. Privately held TechGnosis has 150 employees and claims annual revenue of $13.8m. Intersolv will integrate TechGnosis’s Sequelink middleware into its own DataDirect data access and analysis product to provide database access over TCP/IP, NetBIOS, NetWare, AppleTalk and DECnet.

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