Unisys to buy PulsePoint for $100M

Unisys Corp. (NYSE: UIS) said Tuesday it plans to acquire PulsePoint (Nasdaq: PLPT), a leading developer of telecom software, in a tax-free, stock-swap valued at $100 million.

Unisys, a supplier of information services, will use PulsePoint's software to allow customers easy access to voice, FAX, and e-mail using a variety of devices. Unisys said its merger takes advantage of the convergence of voice and data networking.

The purchase price will depend on the value of Unisys common stock to be issued at the closing. Based on Unisys' closing price yesterday at 37.44, the transaction would be a maximum of $6.60 per PulsePoint common share.

PulsePoint's executives and 150 personnel will continue to work from its Carpinteria, CA base. The Blue Bell, PA-based Unisys, with 33,000 employees, expects to close the acquisition in the third quarter of 1999, subject to approval by shareholders.