PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

LLR Partners completes acquisition of I-many

LLR Partners, one of the Mid-Atlantic’s largest private equity investment firms, has completed the acquisition of I-many, a provider of contract management software and services, for US

LLR Partners, one of the Mid-Atlantic’s largest private equity investment firms, has completed the acquisition of I-many, a provider of contract management software and services, for USD0.61 per share in cash.

LLR and I-many announced a definitive merger agreement on 29 April 2009. The agreement was approved unanimously by the I-many board of directors at that time, and has subsequently gained the approval of I-many’s stockholders.

As a result of the merger, quotation of I-many’s common stock on the OTC pink sheets will cease at the end of trading on 25 June 2009.

John A. Rade, president and chief executive of I-many, says: "LLR has expertise in both application software and the healthcare industry, making it a perfect fit for I-many. They bring the talent, resources and commitment we need to execute on our enhanced growth strategy. With the recent uncertainty now in the past, I-many can move forward with a renewed focus on growth and the capital base to pursue our long-term vision for the company."

Paul Winn, operating partner for LLR, has joined I-many as chairman of the board of directors.

Winn says: ‘I look forward to working with I-many, its customers, partners, and employees to expand its leadership position and product offerings in the life sciences industry and provide valuable contract management solutions across many industries. With LLR, I-many can continue to drive real value for the customers that depend on its contract management software and services.’

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured