Apr, 2002 : Divine Acquired Viant With Class A Common Shares

📅 April 5, 2002 - Divine Inc., a professional, software, and managed services provider, signed a definitive agreement to acquire Viant Corp., a digital business solutions provider, for about 200 million Divine Class A common shares, or about $94.3 million based on Divine's closing stock price Thursday.

Within the agreement, Viant (viant.com) shareholders will receive 3.977 shares of Divine Class A common for each Viant share.
Nasdaq closed Thursday up 2 cents, or 4.3 percent, at 48 cents. Divine (divine.com) has about 418.3 million shares outstanding.
Shares of Viant, an Internet professional services company which has about 49.4 million shares outstanding, closed Thursday down 2 cents, or 1.5 percent, at $1.30 in Nasdaq trading.
While the deal awaits customary closing conditions, including shareholder approval, the agreement has already been approved by the boards of both companies. The payment by Viant of a cash dividend of $24 million will be supplied to Viant shareholders prior to completion of the merger. The record date for such dividend hasn't been set.