Interface Systems acquired by Tumbleweed Communications
Tumbleweed In $63 Million Deal For Interface Systems
Redwood, CA June 2000 – Tumbleweed Communications, which makes software used to transmit secure e-mail via the Internet, said yesterday that it would buy Interface Systems in a stock deal worth about $83 million. Tumbleweed said the combination of Interface, which connects established computer systems to the Internet, with its own software would increase the security of corporate exchanges of information. Under the terms of the agreement, Interface shareholders will receive 0.264 of a Tumbleweed common share for each share of Interface common stock. Shares of Tumbleweed fell 56.25 cents, to $49.9375, while Interface rose $2.75, or 29 percent, to $12.25. Alan Fullerton advised Interface on the transaction.
Tumbleweed has approximately 2,300 enterprise and government customers. The Company’s traditional market focus has been in the financial services, health care, and government markets.
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Mirus Capital Advisors provides investment banking solutions to corporate clients in the areas of software, online media, business services and niche manufacturing. Founded in 1987, Mirus provides corporate finance advisory services on engagements including mergers, acquisitions, divestitures, recapitalizations and valuations. Additional information about the firm is available at www.merger.com.Back to Transactions