Combined company positioned to become one of the largest pure-play PLM providers
San Jose, CA and Waltham, MA August 6, 2003Agile Software Corporation (NASDAQ: AGIL), a provider of product lifecycle management (PLM) solutions, announced it has entered into a definitive agreement to acquire Eigner, for consideration comprised of stock and cash. Eigner is a provider of PLM solutions to the automotive, industrial equipment, aerospace and defense industries.
"Agile's acquisition of Eigner creates one big, bad PLM pure play vendor. Agile has certainly demonstrated its understanding of how PLM business processes make companies more money and Eigner has a long tradition of delivering top notch support for complex engineering processes. Together they look like a winner." Source: Kevin O'Marah, The AMR Research Alert on Product Lifecycle Management, August 5, 2003.
Eigner is a private company founded in 1985 in Karlsruhe, Germany, and is now headquartered in Waltham, Massachusetts, serving over 250 customers including Lockheed Martin, Magna Steyr, Siemens, Varian and ZF. Agile, with over 850 customers around the world, is a leading provider of PLM solutions to the electronics, high technology, life sciences, and consumer products industries. Agile customers include Dell, Flextronics, GlaxoSmithKline, Hitachi, Johnson & Johnson, Leapfrog, Microsoft and QUALCOMM. These customers are managing their product records to accelerate time to market, reduce costs, extend the supply network and ensure regulatory compliance through the use of Agile's broad PLM suite.
"The combination of Agile and Eigner is a win-win situation for everyone. Agile and Eigner share common business values related to customer success, fast time-to-value, and industry-leading best practice solutions," said Bryan Stolle, Agile CEO. "The combined company, with well over a thousand customers, a very broad PLM product, and a large global development and service capability, will bring significant resources to bear in helping our customers increase market share and profit margins, through lower cost higher quality products brought to marker faster than ever before."
"Just as the enterprise resource planning (ERP) market consolidated disparate back-office activities into a cohesive environment for running business operations, PLM consolidates diverse business applications that create, modify and use product data during all phases of a product's lifecycle. We expect PLM to be one of the fastest growing areas in enterprise software over the next several years." Marc Halpern, Research Director, Product Lifecycle Management, Gartner.
"Agile is a world-class PLM provider whose resources and global presence will bring additional value to Eigner customers," said Frank Azzolino, Eigner CEO. "The addition of Eigner's industry expertise in automotive supply chain, industrial machinery, aerospace and defense to Agile's capabilities in life sciences, consumer products, electronics, and high technology, clearly makes the combined company a dominant player across all key discrete manufacturing verticals."
Details of the acquisition, including the anticipated impact on Agile's future results, will be discussed in a conference call and webcast on August 5, 2003, at 8:30am ET. A webcast of the conference call will be available on Agile's website at www.agile.com under the "Investor Relations" section. You may access replays of the webcast for ninety days after the call at http://www.agile.com/investors. Additional investor information can be accessed at www.agile.com or by calling Agile's Investor Relations Department at 408-975-3900. Agile and Eigner expect to complete the acquisition as quickly as possible. Agile also reported preliminary results for its fiscal quarter ended July 31, 2003. Agile reported revenues of approximately $18.2 million, and expects to report a GAAP net loss in the range of $.05 to $.06 per share. The net loss per share on a pro forma basis, excluding amortization of stock compensation of approximately $500,000, is expected to be in the range of $.04 to $.05 per share. Final results will be reported on August 19, 2003.