Aurea Software, Inc., an Austin, TX-based provider of cloud-based, enterprise-scale software for businesses to drive digital transformation, is to acquire BroadVision (Nasdaq: BVSN), a Redwood City, CA-based provider of complex document creation, management and collaboration tools.
The amount of the deal was not disclosed.
The addition of BroadVision to Aurea’s enterprise software library continues the company’s focus on strengthening its collaboration suite of offerings available under their Aurea Unlimited single subscription plan.
Led by Dr. Pehong Chen, CEO, BroadVision provides solutions that simplify the creation and management of complex documents requiring version control, input from multiple sources, multi-format publishing and execution in multiple languages. Collaboration features allow teams to edit and share feedback from any device, assign tasks and connect with stakeholders, both inside and outside organizations. The company serves many of the largest organizations in complex and highly regulated markets, including aerospace and engineering.
Led by Scott Brighton, CEO, and by Ben Cohen, president and chief revenue officer, Aurea provides collaboration tools, as well as an extensive enterprise software library, which includes products across sales, marketing, operations, human resources and infrastructure, as well as several industry specific solutions.
* The anticipated acquisition is part of a pre-packaged, Chapter 11 corporate reorganization with Aurea’s parent, ESW Capital LLC (ESW), providing funding for the acquisition and ongoing operations. BroadVision expects shareholders to receive at least $4.375 per share of BVSN common stock. On the plan effective date, all existing equity interests in BroadVision will be extinguished, and ESW will receive all shares of the reorganized company. Aurea, together with BroadVision, will plan a smooth transition for employees and customers that will begin upon completion of the potential acquisition. The companies expect the acquisition process to conclude in May 2020, subject to court approval.