BEA picks Plumtree

BEA Systems reports it has entered into a definitive agreement to acquire Plumtree Software. BEA says the acquisition will enable it to better provide customers with improved enterprise productivity by offering both collaborative and transactional portals across multiple platforms and application servers. Plumtree's cross-platform offerings run on both J2EE and .Net.

BEA says that under the terms of the agreement, it will pay $5.50 per share, in cash, plus the assumption of outstanding Plumtree options, for a total transaction value of approximately $200 million. The acquisition is subject to regulatory approval, Plumtree shareholder approval and other customary closing conditions. The transaction is expected to close in the fall.