Mercury Interactive

Last updated
Mercury Interactive Corporation
Company typePart of HP Software Division, Hewlett-Packard
Industry Computer Systems
Software
Consulting
IT Services
Founded1989;35 years ago (1989)
FateAcquired by HP, moved to Hewlett Packard Enterprise when HP split, and then spun out to Micro Focus.
Headquarters Cupertino, California, United States
ProductsIT Management Software
Website www.hp.com/software

Mercury Interactive Corporation was an Israeli company 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.

Contents

History

In 1989, Zvi Schpizer, Ilan Kinriech and Arye Finegold founded Mercury Interactive Corporation. [1] The company was based in California and had offices located around the world. It also had a large R&D facility in Yehud, Israel. [2]

On 25 July 2006, Hewlett-Packard announced it would pay approximately $4.5 billion to acquire Mercury Interactive. [3] In November, Mercury Interactive formally became part of HP. [4] The Mercury Interactive products are now sold by HP Software Division. [5]

Mercury Interactive legacy products were integrated and sold as part of the HP IT Management Software portfolio from the HP Software Division. [6]

Most of the Mercury Interactive software assets were apportioned to Hewlett Packard Enterprise (HPE) when HP split into two companies. In September 2017, HPE completed the sale of most of its software assets, including the legacy Mercury Interactive products to UK-based Micro Focus.

In 2023, Canadian software company OpenText acquired Micro Focus, including Mercury Interactive products.

Acquisitions

From 2000 until its HP acquisition in 2006, Mercury purchased several software companies:

Corporate malfeasance

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. [16] On 3 January 2006, Mercury missed a second deadline for restating its financials, leading to the delisting.

Three top executives 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. [17] A former Chief Financial Officer, Sharlene Abrams, later associated with the financial misreporting, had resigned previously in November 2001. [18]

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 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. [19] 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. [20]

The SEC settled charges against Sharlene Abrams in March 2009. Abrams agreed to pay $2,287,914 in disgorgement, of which $1,498,822 represented the "in-the-money" benefit from her exercise of backdated option grants, and a $425,000 civil penalty. [21] In September 2009, a federal judge dismissed all charges brought by the SEC against Susan Skaer, who now goes by the name Susan Skaer Tanner. [22]

Products

Competitors

Quality Assurance
IT Governance / ITIL / ITSM
Monitoring and Diagnostics

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References

  1. ↑ "Answers - The Most Trusted Place for Answering Life's Questions: Mercury Interactive Corp". Answers. Retrieved 2024-06-22.
  2. ↑ "Mercury in Israel" (PDF). www.hp.com. 2006.[ dead link ]
  3. ↑ "HP to Acquire Mercury Interactive Corp". www.hp.com. 2006.
  4. ↑ “HP Closes Landmark Mercury Acquisition” news release. 2006. www.hp.com
  5. ↑ “Looking for Mercury Interactive?” www.hp.com[ permanent dead link ]
  6. ↑ “Looking for Mercury Interactive?” www.hp.com Retrieved 2010-02-15. [ permanent dead link ]
  7. ↑ Israel Venture Capital Research Center. “Next best to a sure thing.” Retrieved 2010-02-25. Archived 2011-07-13 at the Wayback Machine IVC Online.
  8. ↑ Business Wire. “Freshwater Software delivers a splash of Java with SiteScope 2.0; New Web monitoring and administration tools simplify and automate the management of complex Web environments.” (1997-03-31). Find Articles. Retrieved 2010-02-22.
  9. ↑ M2 Presswire. “Mercury Interactive acquires Freshwater Software to solidify application performance management leadership.”
  10. ↑ Mary Hayes Weier. InformationWeek. “Mercury Buys Kintana: Start Of A Spending Spree?” Retrieved 2010-02-24.
  11. ↑ Mary Hayes Weier. InformationWeek. “Mercury Buys Kintana: Start Of A Spending Spree?”
  12. ↑ Business Wire. “Appilog to Be Acquired by Mercury.” Retrieved 2010-02-26.
  13. ↑ Charles Babcock. InformationWeek. “Mercury Buys Appilog.”
  14. ↑ PR Newswire. “Mercury Announces BTO Core Technology Acquisitions.”
  15. ↑ Paul Krill. InfoWorld. “Mercury buys Systinet in SOA governance play.” Retrieved 2010-0226.
  16. ↑ Seeking Alpha. “Mercury and Comverse: Strategic Fall to The Pink Sheets (MERQ, CMVT).”
  17. ↑ TheStreet.com. “Mercury Interactive CEO, CFO Resign.” Retrieved 2010-02-25. Archived 2011-06-06 at the Wayback Machine
  18. ↑ U.S. Securities and Exchange Commission. “Defendant Sharlene Abram’s Objections to Lead Plaintiff’s Request for Judicial Notice in Opposition to Defendants’ Motion to Dismiss the Consolidated Complaints’ Class Action Suit.”
  19. ↑ "PR Newswire. "Mercury Board of Directors Names Anthony Zingale Chief Executive Officer."". Archived from the original on 2010-11-27. Retrieved 2010-02-27.
  20. ↑ Securities and Exchange Commission. “SEC Settles With Mercury Interactive and Sues Former Mercury Officers for Stock Option Backdating and Other Fraudulent Conduct.” Retrieved 2010-02-25.
  21. ↑ U.S. Securities and Exchange Commission. “Sharlene Abrams, Former Chief Financial Officer of Mercury Interactive, LLC, to be Permanently Enjoined and to Pay Civil Penalties and Disgorgement for Stock Option Backdating and Other Fraudulent Conduct; Abrams Also to be Barred from Serving as an Officer and Director of a Public Company.”
  22. ↑ Amy Miller. Texas Lawyer. “Ex-GC Alleges McAfee Used Him as 'Shield' to Protect Its CEO, Directors.” Retrieved 2010-02-25.

Bibliography

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