ROSEVILLE, Calif., – April 16, 2009 – Unify Corp. (NASDAQ: UNFY), a global provider of application development, database and migration products, today announced that it has entered into a definitive agreement to acquire AXS-One (OTCBB: AXSO), a leading provider of integrated content archiving software solutions. The acquisition, which is subject to approval by the stockholders of Unify and AXS-One, is expected to close by the end of Unify’s fiscal first quarter, ending July 31, 2009.

Through the agreement, Unify will purchase all outstanding shares and debt of AXS-One in an all-stock transaction valued at approximately $8.0 million, based on Unify’s closing stock price yesterday, subject to certain closing adjustments.

The acquisition is expected to create a more competitive, cost efficient company with a larger customer base, increased maintenance revenues and a significant growth potential. AXS-One’s 2008 revenues were $13.4 million, up 12% over 2007, including approximately 48% recurring maintenance revenue. Based on the expense reductions previously implemented by AXS-One and the further cost savings expected post closing, Unify expects the transaction to be accretive on a non-GAAP basis by the end of its fiscal second quarter, ending October 31, 2009.

Read the full story originally posted by Litigation Support Industry: Business News and Information Blog.