The deed is done.
On Monday Novell Inc. and WordPerfect Corp. announced the successful tying of the knot and the acquisition of Borland's Quattro Pro spreadsheet business - bringing together hands-on software for words, numbers and graphics with system software for computer networks.Novell is currently the leading provider of business and work-group application software as well as the world leader in network soft-ware.
"With Novell and WordPerfect technology, Novell intends to lead the industry's evolution to network applications," said Bob Fran-ken-berg, Novell president and chief executive officer. "Applications that improve our ability to access networked data, create easily shared information, collaborate and communicate over the network whether from an at-home office, on the road, or within a global corporation."
Frankenberg said WordPerfect is key to Novell's drive to enhance the use of increasingly pervasive networks.
"Novell is an innovative software company and catalyst for change," he added. "The merger with WordPerfect and acquisition of Quattro Pro enables the combined, greater Novell to broaden the scope of user and vendor partners' needs we can address with software components based on open interfaces and standards."
The acquisition by Novell of the Orem-based software company is the largest software acquisition in the history of the industry.
The two companies' combined 1993 revenue totaled $1.8 billion, making the resulting combination of the network giant and software industry leader the third largest software vendor after Microsoft and Computer Associates.
The WordPerfect Corp. and Quattro Pro business from Bor-land have become the Word-Perfect/-Novell Applications Group, a new business unit within Novell.
Ad Rietveld, formerly the chief executive officer for WordPerfect, will stay at the helm as president of the new Novell group.
"The decision to join Novell was driven by our perspective on how the power of networks is transforming the applications industry," Rietveld said. "Increasingly, today's applications will become network applications adding new dimensions to their power, capabilities and case-of-use. JoiningNovell means we'll continue to deliver the best capabilities to WordPerfect users while making the evolution to network applications easy, manageable, timely and effective.
"We join Novell creating a software powerhouse to deliver desktop, software suite, group-ware and networked applications that define new capabilities for individual computer users as well as for corporate information systems," Rietveld added.
Terms of the merger have not changed from the definitive agreement signed by the three companies March 21.
Novell exchanged 59 million shares of its stock and options, valued at approximately $855 million, for the outstanding shares of Word-Perfect common stock and stock options.
On a fully diluted basis, the new shares represent approximately 15 percent of Novell's shares. As part of the merger, Novell also completed its purchase of the Quattro Pro spreadsheet business from Bor-land International for nearly $145 million.
Until the merger with the Provo-based Novell, WordPerfect was a privately held company.
WordPerfect is a worldwide leader in providing business, workgroup, consumer and electronic publishing software.
It develops business software to help people process, share and present information across a wide variety of computer operating systems. Among the company's key products are business applications including WordPerfect, the world's best-selling word processor, and WordPerfect Presentations; work-group applications including WordPerfect Symmetry and WordPerfect InForms; electronic publishing software including WordPerfect Envoy; and, consumer products including WordPerfect InfoCentral and WordPerfect Works.
Network applications from Novell leverage the power, efficiency and cost-effectiveness of networks by taking advantage of shared network services including global directories, storage, messaging, security and workflow management.
The combined company will now be able to simultaneously evolve both the world's most popular network - NetWare - and net-worked applications such as Soft-Solutions to better address the needs of knowledge workers in small and large firms alike.