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Informix to buy Red Brick Systems

The database software maker signs an agreement to buy the data warehousing provider for about $35 million in stock.

Database software maker Informix has signed an agreement to buy Red Brick Systems, a data warehousing provider, for about $35 million in stock.

Under the terms of the deal, Informix will exchange each share of Red Brick common stock for 0.6 shares of Informix common stock. The transaction, which is expected to close by the end of the year, is subject to regulatory and shareholder approval, as well as to an audit of Red Brick's financial results.

Informix stock, like most technology shares on the Nasdaq Composite Index, closed on a down note today. The shares were off nearly 8 percent at 4 ahead of the news of the Red Brick deal. The stock has traded as high as 10.4375 and as low as 3.5 during the past 52 weeks.

Red Brick shares closed nearly 3 percent lower today at 2.1875. The stock has traded as high as 10.375 and as low as 1.875 during the past year.

Informix executives said the company would integrate Red Brick products into the Informix Decision Frontier line of data warehousing products.

"We intend to offer the market the most comprehensive data warehousing solutions in the industry," Informix chief executive Bob Finocchio said in a statement.

Red Brick's marketing, consulting, and research and development departments will become part of the Informix Data Warehousing Division once the transaction is complete, the company said.