There are just a few software companies in Austin that, if you worked there, will ensure that you are well-networked with most of the current software companies in Austin.? Vignette is one of them.? Everyone knows someone who worked there, and the network among Vignette alumni is pretty good. I've worked with a number of Vignette alumni who were top notch, including our own Greg Harley.
I first saw the mention of the acquisition on the Austin Startup blog.