Software AG has agreed to buy SOA vendor webMethods for US$546 million in cash.
German company Software AG is attempting to move from being an XML specialist to an SOA company, it recently announced plans to build an alliance of small European SOA vendors.
In addition to bolstering its SOA offerings, the acquisition of webMethods will give Software AG a foothold in the US, and help achieve its goal of doubling its revenue to more than €1 billion.
The supervisory boards of the two companies have approved the deal, for which they must still obtain approval from shareholders and regulators. Software AG expects to close the deal by the end of June.
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