IBM today announced the start of cash tender offers in France and the United States, by CITLOI S.A.S., a wholly-owned subsidiary of IBM, for all outstanding shares (including shares represented by American Depository Shares (ADSs) and warrants of ILOG.
The proposed acquisition, announced last July 28, has been cleared per the Hart-Scott-Rodino Antitrust Improvement Act requirements by the US antitrust authorities and has been authorized by the French minister of economy. The offers are subject to the authorization of the European antitrust authorities and to the condition that, following the expiration of the offers, CITLOI will have acquired the right to hold shares (including ADSs) and warrants representing at least 66.67 percent of ILOG's share capital and voting rights (on a fully-diluted basis).
The cash tender offer price for the shares is EUR 10 per ordinary share and the price for the ADSs is the U.S. dollar equivalent of EUR 10, based on the exchange rate as of the settlement of the tender offers. The French offer is currently expected to close on November 17 and the U.S. offer is currently expected to expire at noon EST November 17.
The board of directors of ILOG has unanimously approved the offers Also, as previously announced, IBM has received commitments from certain ILOG shareholders to tender their shares in the offers. These commitments together represent approximately 10 percent of ILOG's issued share capital. The board of directors of INRIA has ratified the undertaking of INRIA to tender its shares.
ILOG technologies will add significant capability across IBM's entire software platform, the company said. In addition to bolstering IBM's existing rules management offerings, ILOG products are expected to extend IBM into new markets through powerful yet easy-to-use tools in business rules, optimization, visualization, and supply chain management. ILOG products will help customers improve the management of business decisions, the company says.
ILOG offers tools and technologies for business managers, analysts, architects, developers and operations research professionals to use as they analyze, plan, track and improve business processes. Today, hundreds of large enterprises use ILOG technologies to automate decisions, allocate scarce resources and to build smart interfaces into their business processes. Additionally, scientists and mathematicians from hundreds of universities use ILOG products for advanced research, design, and analysis.
For example, a business rule might be applied to elevate a premier customer to the front of a phone queue as part of a customer service process. ILOG's Business Rule Management System provides users with tools that allow greater control over the criteria that determine how and when to route those premier customers. As such, businesses can accelerate the process of initiating policy changes that may be driven by market trends or competitive activity to ensure customer satisfaction is maintained.
If completed, the acquisition of ILOG will improve IBM's BPM and SOA position by providing customers a full set of rule management tools for information and application lifecycle management across a comprehensive platform including IBM's leading WebSphere application development and management platform, the company said.
About ILOG
ILOG (NASDAQ: ILOG) (PARIS: ILO)delivers software and services that empower customers to make better decisions faster and manage change and complexity. Over 3,000 corporations and more than 465 leading software vendors rely on ILOG's market-leading business rule management systems (BRMS), supply chain applications as well as its optimization and visualization software components, to achieve dramatic returns on investment, create market-defining products and services, and sharpen their competitive edge. ILOG was founded in 1987 and employs more than 850 people worldwide. For more information, please visit http://www.ilog.com.
About IBM
For more information on IBM visit: http://www.ibm.com/soa.
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