Ascential to Acquire Vality Technology
Ascential Software Corp. has agreed to acquire privately held Vality Technology in a cash transaction valued at $92 million, Ascential said yesterday.Ascential offers a data management and movement tool, and Vality is a data quality vendor. The transaction is expected to close in April, subject to approval of Vality shareholders and other closing conditions. The merger is expected to be accretive by year-end 2002.
According to both companies, the acquisition will create an offering that integrates Ascential's data management services with Vality's cleansing technologies.
Ascential Software, Westboro, MA, supports more than 1,800 customers in industries such as telecommunications, insurance, financial services, media/entertainment and retail. Ascential's customer list includes American Express, Anheuser-Busch, AT&T, Boeing, Carrier Corp. and Cisco Systems.
Vality, Boston, has more than 500 customers in financial services, healthcare, manufacturing, telecommunications, retail and government markets. Vality customers include, Bristol-Myers Squibb, Cingular Wireless, CMP, John Deere, Marks & Spencer, and Motorola.
