Mercury Interactive
| Part of HP Software Division, Hewlett Packard | |
| Industry |
Computer Systems Software Consulting IT Services |
| Fate | Acquired by HP |
| Founded | 1989 |
| Headquarters | Cupertino, California, United States |
| Products | IT Management Software |
| Website | www.hp.com/software |
Mercury (formerly Mercury Interactive Corporation) is a former Israeli company that has been acquired by the HP Software Division. Mercury offered software for application management, application delivery, change and configuration management, service-oriented architecture, change request, quality assurance, and IT governance.
In 1989, Amnon Landan and Arye Finegold founded Mercury Interactive Corporation. The company was based in California and had offices located around the world. It also had a large R&D facility in Yehud, Israel.
On 25 July 2006, Hewlett-Packard announced that it would pay approximately $4.5 billion to acquire Mercury Interactive, offering to pay $52 a share.
On 7 November 2006, Mercury Interactive formally became part of HP. The Mercury Interactive products are now sold by HP Software Division.
Mercury Interactive legacy products were integrated and sold as part of the HP IT Management Software portfolio from the HP Software Division.
From 2000 until its HP acquisition in 2006, Mercury purchased several software companies:
From 4 January 2006 until its acquisition by Hewlett-Packard, Mercury Interactive was traded via the Pink Sheets as a result of being delisted from the NASDAQ due to noncompliance with filing requirements. On 3 January 2006, Mercury missed a second deadline for restating its financials, leading to the delisting.
Chief Executive Officer Amnon Landan, Chief Financial Officer Douglas Smith, and General Counsel Susan Skaer resigned in November 2005 after a special committee at the company found that they benefited from a program to favorably price option grants. The committee found that, beginning in 1995, there were 49 instances in which the stated date of a stock option grant was different from the date on which the option appeared to have been granted. In almost every case, the price on the actual date was higher than the price on the stated grant date. A former Chief Financial Officer, Sharlene Abrams, later associated with the financial misreporting, had resigned previously in November 2001.
The Chief Executive Officer, Amnon Landan, also was found to have misreported personal stock option exercise dates to increase his profit on transactions three times between 1998 and 2001. In addition, a $1 million loan to Mr. Landan in 1999—which was repaid—did not appear to have been approved in advance by the Board of Directors and was referred to in some of the company's public filings with the Securities and Exchange Commission, but was not clearly disclosed. In 2007, the SEC filed civil fraud charges against Landan, Smith, Skaer and Abrams. Without admitting or denying the SEC's allegations, Mercury Interactive agreed to pay a $28 million civil penalty to settle the Commission's charges in 2007.
...
Wikipedia