FOR IMMEDIATE RELEASE
Melville, New York - May 7, 2002 - Microsoft to Acquire Navision.
Companies Combine Strengths to Accelerate .NET Business Applications Strategy For Small and Midmarket Businesses.
Microsoft Corp. today announced it has reached an agreement to acquire Navision, a global provider of integrated business software solutions. The acquisition will bring together the complementary geographic and product strengths of Navision with Microsoft Great Plains Business Solutions, enhancing Microsoft’s ability to deliver interconnected .NET business solutions for small and midmarket businesses.
The acquisition is structured as a stock and cash purchase based on an offer to shareholders of 300DKK per share. The total transaction value is estimated at approximately $1.3 billion (U.S.)/1.4 billion EUR/10.8 billion DKK.
"The combined vision, business strategy and product offerings of Microsoft and Navision will provide great benefits to small and midmarket customers, and will create strong growth opportunities for Microsoft," said Microsoft CEO Steve Ballmer. "Many business processes in these companies are not yet benefiting from the efficiencies that technology offers. Microsoft and the Navision team together are committed to delivering compelling and powerful solutions and products to this important and large market segment, through our partners, that will enable businesses to be more competitive, agile and productive."
"Microsoft and Navision have had parallel lives, each with a deep belief in building long-term customer relationships achieved through lasting commitment to talented, value-adding partners," said Doug Burgum, senior vice president of Microsoft and president of Microsoft Great Plains. "The combination of these two strong organizations with deeply similar values and approaches makes enormous strategic sense, and will create enhanced opportunities for partners and even more capable and affordable solutions for customers."
For Navision, the union represents the logical next step in the company’s continued commitment to helping businesses grow. "Navision and Microsoft share a common vision for business applications. Through our combined technologies, we will enhance and broaden the solutions that our customers already have invested in, and continue to provide customers with new generations of business applications that make business processes easier and more interconnected," said Jesper Balser, co-CEO of Navision.
Once the acquisition has been completed, Navision will become part of Microsoft’s Business Solutions division. Navision’s corporate headquarters in Vedbaek, Denmark, will become the center of development and operations for Microsoft Business Solutions in Europe, the Middle East and Africa (EMEA), and will become Microsoft’s largest product development center outside the United States.
"Navision’s success is built upon a deep understanding of customer needs that is delivered through an extensive local partner network," said Preben Damgaard, co-CEO of Navision. "Microsoft’s commitment to expanding its product development efforts to EMEA underscores our shared vision for customer solutions that meet the specific needs of our increasingly global customer base."
Balser and Damgaard will remain deeply involved with the business. Once the acquisition is completed, Balser will be director of global strategy and Damgaard will be director of EMEA operations for Microsoft Business Solutions, based out of Vedbaek, Denmark.
About Navision
About Microsoft Great Plains Business Solutions
About Microsoft
Microsoft and Great Plains are either registered trademarks or trademarks of Microsoft Corp. or Great Plains in the United States and/or other countries.
Great Plains Software Inc. is a wholly owned subsidiary of Microsoft Corp.
The names of actual companies and products mentioned herein may be the trademarks of their respective owners.
About A. B. Computer Systems, Inc.
Navision is the leading global provider of integrated software solutions for small and medium-sized businesses. Navision’s software solutions are sold through an extensive network of approximately 2,400 partners. Worldwide, Navision has sold more than 136,000 solutions. The main product lines include Navision Axapta®, Navision Attain®/Navision Financials® and Navision XAL®. Navision has 1,300 employees and subsidiaries in 30 countries. The company is listed on the Copenhagen Stock Exchange (CSE "NAVI"). Navision’s corporate headquarters are located in Vedbaek, Denmark.
Microsoft Great Plains provides business applications that help small businesses, midmarket companies and midsize enterprises become more agile in today’s interconnected economy by extending specific information and procedures to employees, customers, vendors and partners. The business applications automate end-to-end business processes across financials, distribution, project accounting, electronic commerce, human resources and payroll, manufacturing, supply chain management, business analytics, sales and marketing management, and customer service and support.
Founded in 1975, Microsoft (Nasdaq "MSFT") is the worldwide leader in software, services and Internet technologies for personal and business computing. The company offers a wide range of products and services designed to empower people through great software -- any time, any place and on any device.
A. B. Computer Systems, Inc. (ABCSI) is a leading provider of turnkey business solutions that include software, hardware and services. Established in 1989, the company specializes in Accounting, Distribution and Manufacturing Systems, Internet Commerce and Custom Designed Business Software. With offices in Melville, Manhattan and Saddle Brook, the company caters to mid-size businesses that invest in technology in order to improve productivity, efficiency and their bottom line. ABCSI's consultants have many years of business software implementation experience, and certifications from Navision, ACCPAC, Sage and APICS.
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