Vignette Corp. (Nasdaq:VIGN) today announced that it has entered into a definitive agreement to acquire privately held Intraspect Software Inc., a leading provider of enterprise collaboration solutions. The acquisition will bring together the acknowledged market leader in content management and portal solutions with the award-winning Intraspect technology to deliver the most advanced unified solution to power the enterprise Web. Under the terms of the agreement, Vignette will pay $20 million, composed of $10 million in cash and approximately 4.2 million shares of Vignette stock, for Intraspect. The transaction is subject to approval from the Intraspect stockholders and customary closing conditions. "The convergence of collaboration with portal, integration and content services is clear," said Thomas E. Hogan, president and CEO of Vignette. Services provided by the core Intraspect platform include indexing and search, security, communications, data management and subscription notification. In addition to the core Intraspect 5 platform, Intraspect offers several packaged horizontal and vertical solutions that help customers solve more complex collaborative business process needs. ...well Vignette is certainly putting the conceptual pieces together here and Intraspect's customer list is certainly broad and healthy looking. The task of making all the pieces play well together is, as we all know well, much easier said than done and is the real challenge that Vignette has and will continue to have for some time. Read the press release.