Click2Learn, Docent ink merger pact

By SiliconIndia   |   Wednesday, 29 October 2003, 08:00 Hrs
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HYDERABAD: Leading enterprise software companies in the business performance and learning market, Docent Inc, and Click2Learn have signed a definitive agreement for a strategic merger of operations aimed at creating the largest solution providers for global customers.

The two will be creating a single company well positioned for long-term global leadership.

Click2Learn is a company in which Microsoft’s co-founder Paul Allen has substantial stake. The company has more than 300 employees, of which 100 are based in the Indian operations at Hyderabad.

Docent has 170 employees worldwide but does not have an Indian operation.

According to the agreement, the two companies will each be acquired by a new corporate entity and the deal is expected to be completed by first quarter of 2004.

The stockholders of Click2Learn will receive shares approximately 52% of the new company, while Docent shareholders will receive shares amounting approximately 48% of the new company.

The company’s new name and entity is expected to be announced before closing the deal.

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