Datawatch Corp. (DWCH), a provider of information optimization solutions, said Monday that it has agreed to acquire Panopticon Software AB, a privately held Swedish company specializing in the delivery of real-time visual data discovery solutions.
As per terms of the definitive agreement, Datawatch will acquire all outstanding shares of Panopticon in an all-stock transaction. Based upon the closing price of Datawatch common stock as of June 14, 2013, the deal is valued at about $31.4 million.
The agreement has been unanimously approved by the Boards of Directors of both companies.
Completion of the transaction is subject to the approval of the Datawatch stockholders, which is expected to occur during its fiscal fourth quarter ending September 30, 2013.
"This acquisition will immediately benefit our combined customers, partners and prospects by allowing them to accelerate the development and deployment of solutions that use the wide variety of data formats and sources present in every organization," said Michael A. Morrison, President and CEO of Datawatch.
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