Buyer aware

Open Text reports it has entered into a definitive agreement for an Open Text subsidiary to acquire all of Eloquent’s outstanding shares for up to $6,720,000.

Eloquent's LaunchForce product will be integrated with Open Text's Livelink, with the benefits claimed to include:

• enhancing Livelink MeetingZone with live video conferencing and rich automatic archiving;

• adding Livelink for Sales Readiness, a packaged solution for keeping sales forces ready to sell, to the Livelink Application Portfolio; and

• adding collaboration and knowledge management capabilities to LaunchForce.

Eloquent says this agreement is the result of its effort to find alternatives to maximize stockholder value. It said its board has approved the transaction and will call a shareholder meeting as soon as possible to approve the transaction.