To broaden its product line, business-to-business software integrator WebMethods on Friday said it will acquire software developer IntelliFrame, a wholly owned subsidiary of Computer Network Technology, for $US31.3 million in cash and stock.
WebMethods said it plans to use IntelliFrame's research and development capabilities to bolster its business automation technology.
It expects to record the IntelliFrame acquisition as an in-process research and development charge for this fourth quarter. The acquisition is expected to close by March 31, pending customary conditions.
