News In Brief
Web software provider Vignette Corp. will acquire e-commerce start-up OnDisplay Inc. in a $1.7 billion stock swap, the companies announced. With the purchase of the San Ramon, Calif., company, Austin, Texas-based Vignette will have 2,000 employees and 870 customers.
WebMethods Inc., a provider of electronic business-to-business services, said it will buy Active Software Inc. in a stock deal valued at $1.3 billion. Based in Santa Clara, Calif., Active is a maker of e-commerce infrastructure software. WebMethods is based in Fairfax, Va.
Some layoffs and a cutback in spending were announced by the US-British consortium negotiating to build a $2 billion natural gas pipeline from the ex-Soviet republic of Turkmenistan, across the Caspian Sea, to Turkey. Trans-Caspian Gas Pipeline blamed the Turkmenistan government for failing to respond to its March 20 proposal for the project, which it called fair to both sides. But sources close to President Saparmurat Niyhazov said he dislikes the consortium's plan for splitting profits from the 1,250-mile venture. The partners in the consortium are General Electric Capital, Bechtel Group, and Royal Dutch Shell.
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