In a move that solidifies its position as a major player in the electronic forms software market, JetForm Corporation has acquired Delrina Group's electronic forms business from Symantec Corporation.
The acquisition gives JetForm immediate full ownership and rights to all of Delrina Group's electronic forms-related products and technology. As part of the transaction, JetForm also acquires 65 people from the Delrina Group. Over half of these employees are involved in R&D activities based in Toronto, Canada. JetForm has agreed to pay approximately US$ 100 million over a period of four years which has a net present value of approximately US$ 65 million. Payment will be made quarterly in cash or stock (at JetForm's option) over the next four years.
``Today's agreement furthers Jetform's already strong presence in the electronic forms and messaging-based workflow markets,'' stated John Kelly, President and Chief Executive Officer of JetForm Corporation. ``As a result we can better provide new and existing customers with a seamless growth path for their electronic forms solutions in every market segment with an emphasis on Internet, workflow and design software.''
``With today's announcement, our customers will now have the ability to acquire leading electronic forms design products and the most advanced messaging-based workflow and server technologies,'' said Gordon E. Eubanks, Jr., Symantec's President and Chief Executive Officer. ``JetForm is committed to a long term enterprise wide electronic forms solution and I believe our customers will be well served as a result of this relationship.''
The acquisition will more effectively leverage the research and development, sales, marketing and service and support for the Delrina product line which includes PerForm and FormFlow electronic forms, and workflow software product families. Additionally, the terms of the agreement give JetForm access to all current Symantec electronic forms and workflow customers.
The Delrina products will complement and enhance the current JetForm family of electronic forms and workflow software which includes JetForm Design, JetForm Filler, JetForm FillerPro, JetForm Central and JetForm Workflow which are integrated with the World Wide Web.
``The JetForm/Symantec agreement is a definite win-win for customers across the board,'' Kelly further added. ``The combined strengths and focus from both these companies on delivering world class forms and workflow solutions will give organizations a clear choice as they move forward implementing their solutions locally, globally and on the Web.''
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