Aurea Announces Intention to Acquire BroadVision
BroadVision’s Powerful Document Creation and Collaboration Tools Strengthen
Aurea’s Suite of Collaboration Products
AUSTIN, Texas and REDWOOD CITY, Calif., March 30, 2020 — Aurea Software, Inc , a leading provider of cloud-based, enterprise-scale software to help businesses drive digital transformation, today announced its intention to acquire BroadVision (Nasdaq: BVSN), a leader in complex document creation, management and collaboration tools. The proposed addition of BroadVision to Aurea’s extensive enterprise software library continues the company’s focus on strengthening its collaboration suite of offerings available under their Aurea Unlimited single subscription plan.
“Better content creation and management has been a long-standing request of our existing Jive and Bonzai customers,” said Scott Brighton, Aurea CEO. “We’re excited to offer our customers these new capabilities at no additional cost as part of their Aurea Unlimited subscription,” added Brighton.
BroadVision’s solutions simplify the creation and management of complex documents requiring version control, input from multiple sources, multi-format publishing and execution in multiple languages. Collaboration features allow teams to edit and share feedback from any device, assign tasks and connect with stakeholders, both inside and outside organizations. A pioneer in the collaboration space, BroadVision serves many of the largest organizations in complex and highly regulated markets, including aerospace and engineering.
In addition to collaboration tools, Aurea’s extensive enterprise software library includes products across sales, marketing, operations, human resources and infrastructure, as well as several industry specific solutions. Coined “The Netflix of Enterprise Software,” subscription customers have full library access immediately upon joining Aurea.
“I’ve watched this market change, and the needs of our customers along with it,” shared Dr. Pehong Chen, CEO of BroadVision. “I’m energized by the many benefits Aurea will bring to BroadVision customers through access to its comprehensive library of enterprise solutions.”
“We’re thrilled at the prospect of welcoming BroadVision customers to Aurea. Our team looks forward to introducing them to our entire library of products, all of which will be available under their existing BroadVision subscription as they join the Aurea family,” said Ben Cohen, Aurea president and chief revenue officer.
The anticipated acquisition is part of a pre-packaged, Chapter 11 corporate reorganization with Aurea’s parent, ESW Capital LLC (ESW), providing funding for the acquisition and ongoing operations. BroadVision expects shareholders to receive at least $4.375 per share of BVSN common stock. On the plan effective date, all existing equity interests in BroadVision will be extinguished, and ESW will receive all shares of the reorganized company. Aurea, together with BroadVision, will plan a smooth transition for employees and customers that will begin upon completion of the potential acquisition. The companies expect the acquisition process to conclude in May 2020, subject to court approval.
Aurea helps global businesses accelerate digital transformation, through unlimited access to the world’s first business software library. Our customers enjoy access to every product in our portfolio, all of which are cloud-based, enterprise-scale and easy to use, with one simple subscription. Our unique operating model and acquisition strategy grows our software portfolio every year, creating unparalleled value and unlimited possibility. For more information, visit aurea.com.
Driving innovation since 1993, BroadVision (Nasdaq: BVSN) provides e-business solutions that enable the enterprise and its employees, partners and customers to stay actively engaged, socially connected and universally organized to achieve greater business results. BroadVision solutions, include Vmoso for virtual, mobile, and social business collaboration and Clearvale for enterprise social networking. Both Vmoso and Clearvale are owned and being developed by BroadVision’s consolidated 19.9 percent-owned subsidiary, Vmoso, Inc. (VMSO), and are available globally in the cloud via the Web and mobile applications. Visit BroadVision.com for more details.