|
 Double-Take Software has announced that on July 22, 2010, its stockholders approved the proposal to adopt the previously announced merger agreement with Vision Solutions, Inc., a portfolio company of Thoma Bravo, LLC, and HA Merger Sub, Inc., a wholly-owned subsidiary of Vision Solutions.
The affirmative vote of the holders of a majority of the outstanding shares of the company's common stock was required to approve the proposal to adopt the merger agreement.
Under the terms of the merger agreement, the company's stockholders will receive $10.55 in cash for each share of Double-Take Software common stock they hold.
Subject to the satisfaction or waiver of certain conditions set forth in the merger agreement and discussed in the Definitive Proxy Statement on Schedule 14A filed by Double-Take Software with the Securities and Exchange Commission on June 21, 2010, Double-Take expects the merger contemplated by the merger agreement to close on July 23, 2010 and that Double-Take Software's common stock will cease to trade on NASDAQ as of the close of business on July 23, 2010.
At the effective time of the merger, Double-Take will become a wholly-owned subsidiary of Vision Solutions.
www.doubletake.com
www.visionsolutions.com
On Jul 26, 2010 Vision Solutions, Inc. announced that it had completed the acquisition of Double-Take Software, Inc.
"This is an extremely important event for Vision, Double-Take and the clients we serve," says Vision Solutions' president and CEO Nicolaas Vlok. "Independently, each company has been a respected industry leader in its own information availability markets. Together, we are a global leader with the capability to serve companies - whatever the size, location or sector - with a competitive portfolio across major IT platforms. Among the many benefits for customers and partners is the ability to cross-pollinate ideas and technologies across our combined development and services teams."
Backed by private equity investor Thoma Bravo, Vision's acquisition of Double-Take Software marks its third strategic transaction in the information and high availability marketplace since November, 2006 when it merged with iTera, Inc. Vision later acquired Lakeview Technology in June, 2007.
•Date: 23rd July 2010 • Region: World •Type: Article •Topic: BC markets
Rate this article or make a comment - click here
UPDATED 27TH JULY
|
