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BW: VA Linux Systems Completes Acquisition Of Andover.Net...

Jun 07, 2000, 19:31 (0 Talkback[s])

"VA Linux Systems, Inc. (Nasdaq:LNUX), a recognized leader in Linux and Open Source solutions for Internet infrastructure, today announced it has completed the acquisition of Andover.Net of Acton, Mass., the leading Linux destination on the Internet."

"On February 3, 2000, VA Linux announced a definitive agreement to acquire Andover.Net. On April 26, 2000, VA Linux and Andover.Net announced amendments to the terms of the agreement, by which VA Linux will acquire all of the outstanding shares of Andover.Net. Under the terms of the amended agreement, each share of Andover.Net Common Stock outstanding as of the closing of the transaction will be exchanged for 0.425 of a share of VA Linux Systems Common Stock. The consolidation of the complementary VA Internet sites (including SourceForge, Linux.com and Themes.org) with the Andover.Net sites (including Slashdot.org and Freshmeat.net), creates the Internet's leading destination for Open Source developers and is expected to put the combined network in the top 100 Web destinations based on the number of page views. Based on data reported in Linux Journal, the combined Open Source developer network is expected to comprise nearly two-thirds of the total traffic of major Open Source sites."

Press Release