DIVINE FORMS ALLIANCE WITH
SOFTWARE GIANT |
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TechLife | |
By Stephen
Rynkiewicz Tribune Staff Writer February 13, 2001 |
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Divine InterVentures, the Lisle-based technology holding company, has forged a software alliance with Computer Associates, the rival that absorbed a previous venture of Divine Chairman and Chief Executive Andrew "Flip" Filipowski. Divine will produce e-business portals for corporate clients, combining its software with that of Islandia, N.Y. -based Computer Associates and that of a new Divine acquisition, the e-business system developer SageMaker Inc. Computer Associates bought Filipowski's Platinum Technology International in 1998. It posted $6 billion in revenues last year. Divine will buy SageMaker for $16.5 million in stock. It said the deal is expected to close later this month. SageMaker had 2000 revenue of $6 million. Computer Associates and SageMaker both produce so-called enterprise information portals. These portals pull business data inside and outside a company -- from specific business applications to common e-mail and calendar software -- and transfer it into a worker's Web terminal. Divine plans to incorporate the portal with related software produced by its own companies. "As we assessed our portfolio of companies, the EIP business emerged as a natural fit for Divine," Filipowski said in a statement. "We will continue to make strategic investments, partnerships and acquisitions in technologies that round out our EIP solution." Shares of Divine closed at $1.56, down 6 cents or 3.8 percent. The company, launched in 1999, reported $33 million in revenue for the first nine months of 2000. |