Re: RoweCom to be acquired by divine, inc

[John Webb <jwebb@wsu.edu>]

Two-year old company, public less than a year, I think, stock trading for
about 2 bucks, possibly some kind of venture capital outfit.  Probably
good for Faxon, at least in the short term.  John Webb, Washington State
University

___

At 08:51 AM 5/28/01 -0400, you wrote:
>Not quite on topic for this list, but will be of interest to many readers
>who may be users of RoweCom and Faxon services.  Anyone have more
>information about divine, inc?
>
>
>***************
>RoweCom Contact
>Mary Basilone
>RoweCom, Inc.
>781-410-3342
>mary.basilone@rowe.com
>
>FOR IMMEDIATE RELEASE
>
>ROWECOM AGREES TO BE ACQUIRED BY DIVINE
>
>Leading content procurement company would expand divine's content
>offerings.
>
>WESTWOOD, Mass. - May 24, 2001 - RoweCom Inc. (NASDAQ: ROWE), a global
>provider of high-quality service and e-commerce solutions for purchasing
>and managing print and e-content knowledge resources, announced today that
>it has signed a letter of intent to be acquired by divine, inc., (NASDAQ:
>DVIN), an enterprise solutions company delivering a unique 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 expect 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 historic commitment to its core
>library and desktop services while developing additional services.
>
>"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 Dr. 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."
>
>About RoweCom Inc.
>
>RoweCom (NASDAQ: ROWE) provides high-quality service and e-commerce
>solutions for purchasing and managing the acquisition of magazines,
>newspapers, journals and e-journals, books and other sources of
>comprehensive knowledge resources.  With clients ranging from academic
>libraries to Fortune 1000 companies, RoweCom serves communities with
>intensive knowledge requirements and high-volume purchases. Faxon, a
>long-established leader in academic information services, joined RoweCom
>in October 1999 and continues to serve its clients by offering expanded
>Internet and e-commerce tools as well as new levels of control,
>convenience, and cost-savings. For more information, visit www.rowe.com.
>
># # #