Platinum Software Plans a Stock Issue

Platinum Software Corp., the Irvine-based maker of business management software, plans to issue 16.9 million additional shares of common stock to pay for its acquisition of rival DataWorks Corp, according to regulatory filings.

Investors in the San Diego software firm will receive one share of Platinum stock for every 1.201 shares of DataWorks in the $92.8-million deal, according to documents filed with the Securities and Exchange Commission. There are nearly 14.5 million outstanding shares of DataWorks shares. Of the new shares, 5.4 million will be used to cover options and warrants for DataWorks employees and other early investors, Platinum officials said.

The deal, pending regulatory approval, is expected to be finalized by the end of this year.

Platinum’s stock was unchanged Friday, closing at $12 a share.