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Weekly News Digest
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May 28, 2001 — In addition to this week's NewsBreaks article and the monthly NewsLink Spotlight, Information Today, Inc. (ITI) offers Weekly News Digests that feature recent product news and company announcements. Watch for additional coverage to appear in the next print issue of Information Today.
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RoweCom to Be Acquired by divine, Inc.
RoweCom, Inc. (http://www.rowe.com), a provider of solutions for purchasing and managing print and electronic resources, announced that it has signed a letter of intent to be acquired by divine, Inc. (http://www.divine.com), an enterprise solutions company that provides services, Web-based technology, and managed applications capabilities. The agreement features 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 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 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." RoweCom provides e-commerce solutions for purchasing and managing the acquisition of magazines, newspapers, journals and e-journals, books, and other resources. RoweCom's clients range from academic libraries to Fortune 1000 companies. Faxon (Dawson) joined RoweCom in October 1999. Chicago-based divine was founded in 1999 and now has 3,000 employees worldwide. divine's previous acquisitions include assets from marchFIRST and SageMaker, Inc., an enterprise information portal solutions company. divine also offers products and services for enterprise collaboration, knowledge management, and streaming media solutions. Sources: RoweCom, Inc. and divine, Inc.
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Brandi Scardilli
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