Atria Software Inc and Pure Software Inc announced yesterday that shareholders of both companies have approved the merger of the two companies to create a new Automated Software Quality company to be known as Pure Atria Corporation. Each outstanding share of Atria Common Stock will be converted into 1.544615 shares of Pure Atria Common Stock which will be traded on Nasdaq under the symbol PASW. The new company expects to incur a one-time charge of about $365m in the third quarter of 1996 for merger transaction costs and other merger-related expenses. President and CEO of Pure Software, Reed Hastings will assume the same title in Pure Atria and Atria president and CEO, Chuck Bay will be chairman of the board of directors.
