Cary-based Tangram Enterprise Solutions, Inc. (www.tangram.com), a provider of IT asset management software, has signed a definitive agreement to be acquired by Opsware Inc. (NASDAQ: OPSW). Opsware, based in Santa Clara, California, provides data center automation software. The transaction will be an all-stock transaction valued at $10 million (subject to certain adjustments), according to company reports. Under the terms of the agreement, Opsware will acquire all of Tangram's outstanding debt and shares of convertible preferred stock and common stock.
Officials said they expected the acquisition to close in the first quarter of 2004. The deal is subject to customary closing conditions and regulatory review. Tangram provides IT asset management software to a number of the Fortune 100 companies in the U.S., as well as several major international customers.