Aladdin Knowledge Systems has announced that it has completed its acquisition by an investor group led by Vector Capital, a private equity firm specialising in the technology industry.<
Aladdin Knowledge Systems has announced that it has completed its acquisition by an investor group led by Vector Capital, a private equity firm specialising in the technology industry.
The merger was approved by a majority of Aladdin’s shareholders at an extraordinary general meeting held on 20 February 2009.
Under the terms of the merger, Aladdin shareholders will receive USD11.50 per share in cash for each ordinary share they hold.
David Fishman, partner at Vector Capital, says: ‘We are thrilled that we have successfully brought this transaction to completion. It is now time for all of us to focus on Aladdin’s future, leverage the company’s strong products and take advantage of the combination with SafeNet’s business to create growth opportunities. We remain incredibly impressed with the quality of Aladdin’s management and employees and look forward to working together to build one of the great information security companies.’
‘We are very excited to close this transaction and begin to move forward on the integration with SafeNet,’ says Aviram Shemer, chief financial officer at Aladdin. ‘Our customers will benefit from the strength of the combined companies as we continue to provide our award-winning, innovative security solutions across the globe. Together with our employees, we remain fully committed to the long-term success of Aladdin and SafeNet.’
In connection with the closing, trading of Aladdin’s shares on the Nasdaq Global Market and Tel Aviv Stock Exchange will cease on 24 March and Aladdin will de-list the shares from both exchanges.
Shareholders who possess Aladdin share certificates will receive a letter of transmittal with detailed instructions, along with a tax declaration form, from the appointed paying agent, Bank of New York Mellon, regarding the surrender of their certificates for the merger consideration. For shares held in street name by a broker, bank or other nominee, the broker, bank or other nominee will handle the exchange of shares for the shareholders and will provide them with any relevant instructions for effecting the exchange and providing the tax declaration form.
