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  1. #1
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    Press Release...IBM buys Rational

    User Donna Goodspeed (Donna.Goodspeed@travelersla.com.nospam) posted:

    IBM and Rational Software Sign Agreement for IBM to Acquire Rational
    Will give customers a complete open software development environment for building on
    demand e-business and technical software products
    December 6, 2002
    Armonk, N.Y., and Cupertino, Calif., December 6, 2002 -- IBM (NYSE:IBM) and Rational
    Software Corp. (NASDAQ:RATL) today announced the two companies have entered into a
    definitive agreement for IBM to acquire the equity of Rational at a price of
    approximately $2.1 billion in cash or $10.50 per share.

    Rational provides open, industry standard tools, best practices and services for
    developing business applications and building software products and systems, including
    embedded software for devices such as cell phones and medical systems.

    IBM now will provide a complete software development environment for companies that want
    to integrate their business processes and software infrastructure across their companies
    and with suppliers, customers and employees. This requires the integration of data
    management, systems management, collaboration, transaction and business process
    integration middleware and software development. The acquisition of Rational will
    strengthen IBM’s leadership in each of these segments, including software development,
    and reinforces IBM's commitment to open industry standards. The acquisition is an
    important element of IBM's e-business on demand strategy.

    “The software industry, business customers and developers are increasingly demanding
    software that is based on open industry standards and enables integration -- integration
    of business applications across the enterprise and the value chain of customers and
    suppliers," said Steve Mills, IBM senior vice president and group executive, Software
    Group. "This is an important aspect of IBM's On Demand strategy. Rational supports what
    IBM does best, which is provide infrastructure software and software tools to help our
    customers create a complete software development environment. This deal extends IBM's
    ability to help customers into the 'on demand' future with tools built on industry
    standards to develop, integrate and manage their business processes.”

    Rational provides a software development platform that can improve the speed, quality and
    predictability of software projects. Ninety-eight of the Fortune 100, including IBM, use
    Rational tools and services. IDC estimates the market opportunity for application
    development software will grow from $9 billion in 2002 to $15 billion in 2006.

    “Rational helps software developers around the world write software faster, with less
    risk and can help produce a higher return on investment,” said Michael Devlin, CEO and
    co-founder, Rational Software. “The combination of Rational and IBM is a logical
    extension to what has been a very beneficial, 20-year relationship and will significantly
    extend our progress in key markets and customer segments.”

    With headquarters in Cupertino, California, and Lexington, Massachusetts, Rational has
    more than 3,400 employees and customers in 89 countries. Rational estimates that more
    than 600,000 software developers use its software tools. IBM intends to merge Rational’s
    business operations and employees into the IBM Software Group as a new division and fifth
    brand, joining WebSphere, Lotus, Tivoli and DB2. When the acquisition closes, Mike Devlin
    will become the general manager of the new division and will report to Steve Mills.

    Industry analysts have reported that companies using Rational software have seen return
    on investment rates of 200 percent and higher as a result of increased productivity and
    application quality and reduced development cycles and testing times. IBM has been using
    Rational software since 1985.

    Rational provides the broadest support for enterprise application development on J2EE,
    .NET, Linux and other platforms to support the deployment of solutions on the customer's
    choice of hardware and software platforms. Rational’s tools also are used to build
    technical software, commercial software products and software for embedded devices and
    real-time systems, such as pagers, cell phones, medical devices, air traffic control
    systems and government defense systems.

    Once the acquisition is completed, IBM plans to:

    Market and sell Rational’s application development offerings worldwide through the
    Rational sales force, which will become part of the IBM sales force team;
    Integrate Rational’s products more tightly with IBM software products;
    Continue Rational’s investment in and support for open standards technologies that
    support a variety of platforms, including Unix, Windows and others; and
    Accelerate investments in Rational products to better support the emerging requirements
    of current customers, system integrators (SIs) and independent software vendors (ISVs).
    The acquisition is subject to customary closing conditions, including Rational
    stockholder and government regulatory approvals. IBM and Rational anticipate closing in
    the first quarter of 2003.

    About IBM IBM is the world’s largest information technology company, with 80 years of
    leadership in helping businesses innovate. IBM Software offers a wide range of middleware
    and operating systems for all types of computing platforms, allowing customers to take
    full advantage of the era of e-business. The fastest way to get more information about
    IBM software is through the IBM Software home page at http://www.software.ibm.com.

    About Rational Software Corporation Rational Software provides a software development
    platform that improves the speed, quality, and predictability of software projects.
    Rational’s integrated, full lifecycle solution combines software engineering best
    practices, market-leading tools and professional services. Ninety-eight of the Fortune
    100 rely on Rational tools and services to build better software, faster. This open
    platform is extended by partners who provide more than 500 complementary products and
    services. Founded in 1981, Rational is one of the world's largest software companies,
    with revenues of $689 million in its twelve months ended March 31, 2002, and more than
    3,400 employees worldwide. Rational is a member of the S&P 500 Index and a component of
    the Nasdaq-100 Index® . Additional information is available at www.Rational.com and www.theRationaledge.com, the monthly e-zine for the Rational community.

  2. #2
    SQA Council
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    Re: Press Release...IBM buys Rational

    User Kevin Petry (72627.2200@compuserve.com.nospam) posted:

    Gee Thanks Execs. 10.50 a share! The stock traded at 24.00 a little over
    a year ago. To under valued for this shareholders approval.


  3. #3
    Join Date
    May 2002
    Des Moines, IA, USA
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    Re: Press Release...IBM buys Rational

    $10.50 per share is much better than the $8.50 a share it was trading at Thursday when the market closed before the announcement of the sale.




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