Continuus Software to Acquire Pagoda
(Dow Jones)
Irvine-based Continuus Software Corp. said Thursday it agreed to buy San Francisco-based Pagoda Corp., a privately held provider of Internet-based applications, for stock and cash.
Under the terms of the agreement, Continuus will pay $1 million in cash and issue about 820,000 shares of common stock, which would be worth about $10.7 million at Thursday’s closing price. Continuus Software’s shares closed at $13.06, up 81 cents.
The transaction is expected to close in early February.
Continuus Software, with about 9.4 million shares outstanding, provides products for corporations to develop and enhance their Internet and enterprise software systems.
