Sunnyvale, CA--August 22, 1996--Avant! Corp. and Meta-Software Inc. announced the signing of a definitive agreement to merge.
Gerald C. Hsu will remain as Avant! chairman, president, and chief executive officer; Shawn M. Hailey, Meta-Software's founder, chairman, president, and chief executive officer will join the Avant! board of directors.
The merger agreement provides that Avant! will issue a maximum of 5,079,365 shares of Avant! common stock in exchange for all outstanding Meta-Software equity. The proposed merger transaction will be accounted for as a pooling of interests and is expected to close in the fourth quarter of 1996. The merger is expected to be accretive for Avant! shareholders. The closing of the merger is subject to regulatory and stockholder approval, the availability of pooling-of-interests accounting treatment, and other customary closing conditions.
Return to Headlines