Open Market Makes a Back To The Future

Open Market, Inc. is acquiring FutureTense Inc., a leading provider of Internet content management software.
     Under the terms of the agreement, Open Market expects to issue approximately 7,226,000 shares of its common stock to the holders of outstanding FutureTense stock. In addition, Open Market will assume options to acquire FutureTense stock which will convert into options to acquire approximately 1,118,000 shares of Open Market common stock. A portion of these options will be exercisable immediately upon the closing of the transaction. As of the close of trading yesterday, these shares had an aggregate market value of approximately $125 million. The companies expect that the transaction will be accounted for as a pooling of interests. The transaction is subject to shareholder approval and is expected to close by December.