FileNet to Buy Application Partners’ Software

FileNet Corp., a Costa Mesa Web content management and software company, said Friday that it has agreed to purchase Application Partners Inc.’s Sequis software application for $15 million plus other consideration totaling about $5 million. FileNet said in a press release that the acquisition of the Sequis product line and development team will add to the company’s Web-based products for the financial services industry. FileNet will offer jobs to Sequis product employees, who will remain at the Application Partners’ office in San Ramon. FileNet said it expects to complete the transaction by the end of the second quarter.