BEA to buy portal maker Plumtree for $200 million

BEA Systems has agreed to buy portal software maker Plumtree for $200 million in cash

BEA Systems Inc. said Monday it has agreed to buy portal software maker Plumtree Software Inc. for around US$200 million in cash. The deal finally removes from the market a struggling company analysts long expected to be bought by a larger vendor, and adds to BEA's portfolio a new line of collaboration software.

San Jose, California-based BEA will pay $5.50 in cash per share for Plumtree, an 18 percent premium over Plumtree's (ticker symbol: PLUM) Friday closing price of $4.67 on the Nasdaq exchange. Ahead of the acquisition announcement, Plumtree closed up 4 percent on Monday, at $4.86. Pending regulatory and shareholder approvals, the companies expect the deal to close within the next few months.

Join the newsletter!


Sign up to gain exclusive access to email subscriptions, event invitations, competitions, giveaways, and much more.

Membership is free, and your security and privacy remain protected. View our privacy policy before signing up.

Error: Please check your email address.
Show Comments