Aurea Announces Intention to Acquire BroadVision
March 30 2020 - 11:01AM
Business Wire
BroadVision’s Powerful Document Creation and
Collaboration Tools Strengthen Aurea’s Suite of Collaboration
Products
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.
ABOUT AUREA
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.
ABOUT BROADVISION
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.
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version on businesswire.com: https://www.businesswire.com/news/home/20200330005490/en/
Peggy Bekavac Olson Strategic Marketing for Aurea 480.510.8120
aurea@smktg.com
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