Selectica and I-Many all set to merge

PUNE: Selectica Inc and I-Many Inc, both Nasdaq listed software companies, are set to merge by the first quarter of 2005, according to a statement released here on Tuesday.
Decisions over Selectica India Pvt Ltd., the 250-people research and development centre for the global presence of the US-based entity, the name of the merged entity and other issues will be addressed once the merger process is completed in the US.
Selectica provides solutions to automate the sales opportunity to order process while I-many provides advanced business solutions for enterprise contract management and corporate commitments. Together, they will address comprehensive suite of products for the multi- billion dollar market to automate the revenue centric processes of global enterprises, both, on the sell-side (customer facing) and buy-side (supplier facing).
The statement notes that Selectica will pay US $ 1.55 per share for all outstanding shares of I-Many''s common stock. Selectica''s total payout will not exceed $ 70 million. I-Many''s revenues were $ 40 million over the past several quarters and together, the two companies revenues over the past year are $ 70 million.