12/2/2003: Altiris, Inc. (Nasdaq: ATRS), a leader in systems management solutions that reduce the total cost of owning information technology, today announced that it has acquired privately held Wise Solutions in a combined cash and stock transaction valued at approximately $43 million.
Wise Solutions is the leading provider of enterprise application management solutions and is best known for its expertise in application packaging, including conflict analysis and resolution. Wise Solutions has licensed its Wise Package Studio products to a wide range of customers and partners such as Dell, HP, Wal-Mart, Universal Studios and GlaxoSmithKline.
The strategic acquisition of Wise significantly enhances Altiris® IT lifecycle management offerings with the addition of Wise branded products, and provides Altiris with technology that will enhance existing client and server management offerings, specifically in software delivery and patch management. The acquisition is expected to be immediately accretive and is expected to provide operational efficiencies over time.
“Through this strategic acquisition, Altiris adds world class software packaging and delivery capabilities to our portfolio of IT lifecycle management offerings,” commented Greg Butterfield, President and CEO of Altiris. “Through our existing partnership with Wise, we have already been successful in winning new customer relationships and are now positioned to further leverage our channel partner relationships. As a result of this acquisition, we expect to further integrate the technologies and expand our branded offerings.”
Rockwell Automation, a leading industrial automation company with annual sales of approximately $4 billion, uses Altiris and Wise Solution technologies to automate desktop and laptop management for more than 12,000 employees.
Jim Harings, Rockwell Automation global administration analyst, said, “We use Altiris and Wise Solutions to help reduce the cost of software configuration management. These complementary technologies help us automate and standardize application management and software distribution. A natively integrated solution will help us further create a more stable software environment and ultimately increase end-user productivity while reducing help desk costs.”
Fred Broussard, senior research analyst for IDC’s PC and Device Management Software, said, “When there are thousands of machines within an IT department’s responsibility, repackaging is an important part of the overall software distribution process. A software distribution solution that can take advantage of repackaging capabilities to speed software delivery to the desktops is going to strengthen Altiris’ product line.”
Under the terms of the agreement, Altiris agreed to pay approximately $31.5 million in cash and issue 348,797 shares of Altiris common stock for all capital stock of Wise Solutions. A portion of the consideration has been placed in escrow to satisfy certain indemnification obligations of the Wise Solutions shareholders.