M&A in Brief
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Rocket Software and Astrac Boston-based Rocket Software, has bought the employee-owned Astrac. Astrac is a developer of Business Intelligence and data mining software. Rocket develops enterprise infrastructure products. Terms have not been disclosed. Cisco Completes M. I. Secure Acquisition Cisco Systems has completed its acquisition of M. I. Secure Corporation of San Jose California. M. I. focuses on advanced features and functionality for security and VPN solutions. Cisco paid $13m in cash. Online Resources Buying Integrated Data Systems Online Resources Corp (Nasdaq:ORCC) has announced the acquisition of privately held Integrated Data Systems. The deal should enhance distribution, specialised internet banking applications and professional services capabilities. Integrated Data Systems will become part of the Online Resources Banking Division and continue to operate from offices in Woodland Hills and Pleasanton, California. "We have similar cultures and track records of doing what is best for clients," stated Ann Marie Michael, president of Integrated Data Systems. "We share a vision of leveraging our unique integration capabilities to further distinguish our clients." The cost is $5m in cash plus $300,000 of debt. Peoples Completes American State Bank Peoples Community Bancorp, Inc. has completed it acquisition of American State Bank and its parent American State Corporation. Peoples assets increase by $66m following the deal. Willow Grove and Chester Valley The merger of Chester Valley Bancorp Inc. and Willow Grove Bancorp, Inc has been approved by shareholders. Pending regulatory approval the deal should close in the third quarter of 2005. Under the terms of the merger agreement, each outstanding share of CVAL common stock will be converted into the right to receive either $27.90 in cash or 1.4823 shares of WGBC common stock, at the election of the holder, subject to an overall requirement that 64.76% of the total outstanding CVAL common stock be exchanged for stock. NBT Bancorp Inc. and CNB Bancorp NBT Bancorp and CNB Bancorp have announced a definitive merger agreement. Total value of the transaction is $89 and is expected to close in Q4 2005.
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