Calico To Acquire ConnectInc.com - InformationWeek

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Calico To Acquire ConnectInc.com

E-commerce software vendor Calico Commerce Inc. today unveiled plans to acquire ConnectInc.com, a provider of business-to-business E-commerce software and services, for $90 million in stock.

Calico's flagship product, eSales suite, helps companies sell customized products and services over the Net. With the acquisition, Calico plans to incorporate ConnectInc.com's MarketStream 2.0 product into the suite, which will add product-cataloging, order-management, and business-to-business E-commerce trading capabilities. The integrated product will be sold as eSales Market Maker and will ship in December.

The stock-for-stock acquisition, which will be accounted for as a purchase, is expected to close in March. Subject to shareholder and regulatory approval, Calico will issue 1.2 million shares at .081 per share of its stock for each share of ConnectInc.com.

Shares of both company's stock got a boost from the news. ConnectInc.com gained 7/16 to close at 4-11/16, while Calico nudged up 3/16 to end the day at 67-3/16.

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