27.04.2006 12:22:00
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NetIQ To Be Acquired By AttachmateWRQ; Acquisition Strengthens AttachmateWRQ's Leadership Position in Enterprise Software
AttachmateWRQ, the result of the merging of Attachmate Corp. andWRQ, Inc. in 2005, is owned by an investment group led by Golden GateCapital, Francisco Partners and Thoma Cressey Equity Partners. Uponcompletion of the acquisition, NetIQ will operate as an AttachmateWRQbusiness unit and will no longer be publicly traded.
This acquisition brings together two leading companies withcomplementary strategic visions and technology, and a sharedcommitment to customer satisfaction. Together, AttachmateWRQ and NetIQcomprise a $400 million company, serving over 40,000 customers in over60 countries, with a nearly complete market penetration of the Global10,000. AttachmateWRQ, with NetIQ, is uniquely prepared to providemission-critical enterprise software that enables customers to extend,manage and secure their IT infrastructures.
"The combination of AttachmateWRQ and NetIQ creates a formidableenterprise software company with greater resources and scale," saidJeff Hawn, chairman, president and CEO at AttachmateWRQ. "Together, weare well-positioned to better serve our combined customer base withmore products and resources than ever before."
"Today's announcement is a great outcome for NetIQ and itsshareholders," added Chuck Boesenberg, chairman and CEO of NetIQ. "Theboard and management team of NetIQ determined, after a detailed reviewof all alternatives, that the best option to maximize shareholdervalue and to better execute on NetIQ's strategy is through anacquisition with AttachmateWRQ."
The transaction has been unanimously approved by the boards ofdirectors of both companies and is expected to close in approximately90 days, subject to customary closing conditions, including approvalby NetIQ shareholders and regulatory approvals.
Morgan Stanley advised the board of directors of NetIQ andprovided a fairness opinion to it in connection with the transaction.Credit Suisse advised the board of directors of AttachmateWRQ.
NetIQ provides integrated systems and security managementsolutions that empower IT organizations with the knowledge and abilitynecessary to assure IT service. AttachmateWRQ is a leader inmulti-host access, integration, security and PC lifecycle management.
About AttachmateWRQ
AttachmateWRQ focuses on extending more information, to morepeople, in the most secure and manageable way possible. The leader inmulti-host access and integration, the company enables organizationsto maximize the value of their existing IT investments as they advancetheir long-term business and IT strategies. AttachmateWRQ serves over40,000 customers in nearly 60 countries worldwide. For moreinformation, visit www.attachmatewrq.com.
About NetIQ
NetIQ is a leading provider of integrated systems and securitymanagement solutions that empower IT organizations with the knowledgeand ability necessary to assure IT service. NetIQ's Knowledge-BasedService Assurance products and solutions include embedded knowledgeand tools to implement industry best practices and to better ensureoperational integrity, manage service levels and risk, and ensurepolicy compliance. NetIQ's modular, best-of-breed solutions forPerformance & Availability Management, Security Management,Configuration & Vulnerability Management, and Operational ChangeControl integrate through an open, service-oriented architectureallowing for common reporting, analytics and dashboards. For moreinformation about NetIQ, visit www.netiq.com or call (888) 323-6768.
Additional Information
NetIQ will file a proxy statement and other documents regardingthe proposed transaction described in this press release with theSecurities and Exchange Commission. Investors and shareholders areurged to read the proxy statement and such other materials when theybecome available because they will contain important information aboutNetIQ and the proposed transaction. A definitive proxy statement willbe sent to shareholders of NetIQ seeking their approval of thetransaction. In addition to the proxy statement, NetIQ files annual,quarterly, and special reports, proxy statements and other informationwith the Securities and Exchange Commission. Investors and securityholders may obtain a copy of the proxy statement and any otherdocuments filed by NetIQ free of charge at the Securities and ExchangeCommission's Web site at http://www.sec.gov.
NetIQ's directors and executive officers may be deemed, underSecurities and Exchange Commission rules, to be participants in thesolicitation of proxies from the NetIQ shareholders in connection withthe proposed transaction. Information about NetIQ's directors andofficers can be found in NetIQ's Proxy Statements and Annual Reportson Form 10-K filed with the SEC. Additional information regarding theinterests of those persons may be obtained by reading the proxystatement and other documents regarding the proposed transaction whenthey become available.
Copyright (C) 2006 Attachmate Corporation. All Rights Reserved.AttachmateWRQ, the AttachmateWRQ logo, Attachmate and WRQ are eitherregistered trademarks or trademarks of Attachmate Corporation, in theUSA and other countries. All other trademarks, trade names, or companynames referenced herein are used for identification only and are theproperty of their respective owners.
Copyright (C) 2006 NetIQ Corporation. All Rights Reserved. NetIQand the NetIQ logo are either registered trademarks or trademarks ofNetIQ Corporation, in the USA and other countries. All othertrademarks, trade names, or company names referenced herein are usedfor identification only and are the property of their respectiveowners.
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