Tuesday, November 21, 2006

Sterling Commerce Buys Comergent Technologies For $155M

Sterling Commerce, an Ohio-based subsidiary of AT&T, announced Monday afternoon that it has agreed to acquired Redwood City-based Comergent Technologies in a $155M cash deal. Comergent develops business software used for supply chain management. Comergent includes Affinia, Husky, NEC, Symbol, DIRECTV, and others are customers. The firm is backed by Cisco, Crosspoint Ventures, INVESCO, Mobius Venture Capital, and Morgan Stanley.