Electronics and engineering company Invensys Plc has agreed to acquire ERP software house Marcam Solutions Inc for $60m. Invensys says it will combine Marcam software with its own Wonderware FactorySuite and reckons the combined product will be a complete software package for the process automation market. The deal is aimed at enhancing Invensys’ self-proclaimed leadership position in the automation and controls industry.
Terms of the deal call for Invensys to pay $7.50 per share in cash, for all outstanding Marcam shares – double Wednesday’s closing price of $3.75. The offer, which has been unanimously approved by Marcam’s board, will be carried out through a tender offer by an unnamed subsidiary of Invensys. General Atlantic Partners, which holds about 25% of Marcam’s stock, has agreed to tender its shares, as have the officers and directors of Marcam. Marcam employs 715 people and boasts more than 1,400 customers in 40 countries worldwide.
