Let's Make a Deal

Peregrine acquires Tivoli for $105 million

SAN DIEGO, CA  PRNewswire  December 29, 2000  Peregrine Systems today announced that it has completed its acquisition of the Tivoli Service Desk suite of products and certain related assets.

The deal was for $105 million in total consideration, which was comprised of cash and approximately 3.0 million shares of Peregrine Common Stock. The transaction was structured as an asset purchase and accounted for using the purchase method of accounting.

Under the terms of the agreement, Peregrine has assumed responsibility for the Tivoli Service Desk suite, including Problem Management, Change Management and Asset Management, and has expanded its sales and marketing relationships with IBM Global Services. The transaction strengthens the existing integration of complementary Peregrine products such as ServiceCenter and AssetCenter with Tivoli Enterprise systems and network management products for the benefit of customers.

We welcome the Tivoli Service Desk customers into the Peregrine customer community, said Steve Gardner, chairman and CEO of Peregrine. We will offer them the same award-winning service that our company is noted for, as well as our market-leading ServiceCenter and a host of Infrastructure Management solutions that readily integrate into Tivoli Enterprise systems and network management products.