Information Today
Volume 18, Issue 7 July/August 2001
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RoweCom to Be Acquired by divine

RoweCom, Inc., a provider of service and e-commerce solutions for purchasing and managing print and e-content knowledge resources, has announced that it has signed a letter of intent to be acquired by divine, Inc., an enterprise solutions company that delivers a combination of services, Web-based technology, and managed applications capabilities.

The agreement provides for a stock-for-stock exchange in which RoweCom shareholders will receive three quarters of a share of divine common stock for each share of RoweCom. The parties had expected to sign a definitive agreement by mid-June and complete the transaction following RoweCom shareholder and regulatory approvals. Post-acquisition, RoweCom and its management team will continue RoweCom's commitment to its core library and desktop services while developing additional services, according to the announcement.

"We are excited about the opportunity to leverage our industry-leading knowledge resource solutions within a business that has extensive expertise in knowledge management, electronic content, and electronic services," said Richard Rowe, chairman of RoweCom, Inc. "As an operating division of divine, we will be able to offer our academic, biomedical, corporate, and government clients the best of all worlds. We will continue to provide high-quality services, e-commerce solutions, and a broader range of content, backed by a company that has a shared philosophy on information management, a strong financial position, and a proven executive management team."

Source: RoweCom, Inc., Westwood, MA, 800/ROWECOM, 617/497-5800; http://www.rowe.com.

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