MINNEAPOLIS, 12 June 2007. Sopheon has signed a definitive agreement to acquire Alignent Software Inc. The cash-based transaction is expected to be completed on or about June 18, 2007.
Based in Calif., Alignent is one of a few suppliers that specializes in the provision of advanced product and technology roadmapping software for complex global companies.
Some of the foremost aerospace, defense, and high-tech companies in the world, including Boeing, BAE Systems, Corning, Honeywell, Lockheed Martin, Motorola, and NAVAIR have adopted Alignent's Vision Strategist offering as their product planning solution.
The acquisition of Alignent will immediately expand Sopheon's business in two areas: chemical and consumer packaged goods markets, and a range of new markets, including aerospace, defense, and high-tech.
Alignent reported revenues of $3 million and a $4.3 million net operating loss for 2006. Completion of the transaction is contingent upon the receipt of consents from Alignent shareholders and the delivery of ancillary agreements and formalities. Gross consideration for the acquisition amounts to $5.5 million, including $4.75 million initially upon closing and an additional $750 thousand in potential earn-out payments.
