NetIQ sold in US$495 million deal
- 04 May, 2006 22:00
AttachmateWRQ’s acquisition of NetIQ will cost it US$495 million, the company announced last week.
The acquisition means NetIQ will no longer trade as a public company and will continue to exist as a separate Attachmate business unit.
David Taylor, NetIQ’s regional director Asia-Pacific, says the move is a positive one, and that it will double the companies’ revenue and size.
“Both companies are well represented worldwide, and will from now on comprise a US$400 million company, with over 40,000 customers worldwide.”
Taylor is excited about the move, and says privatisation is the way to go.
“The trend is moving towards privatisation. Compliance bites hard at the moment, encouraging more and more companies to go private.”
Customer focus is key to NetIQ, and Taylor emphasises that becoming a private company means they can concentrate more on their customers.
“The change should be seamless to our customers, but it is too early to talk about any kind of restructuring. In the future it will be a much stronger company, both in size and in financial backing.”
The acquisition has been approved by the boards of both companies, but is still subject to customary closing conditions, including approval by NetIQ shareholders and regulatory approvals.