Francisco Partners Makes Offer to Acquire Mincom Limited.* Francisco Partners offers to buy Mincom Limited for A$315m * Offering A$8.77 per share via scheme of arrangement * Mincom Board recommends acceptance of this offer * Transaction expected to close in 90 days DENVER -- Mincom Limited, a global software and services provider to asset intensive industries, and Francisco Partners, a leading global technology-focused private equity firm, today announced that they had entered into an Implementation Agreement under which Mincom, subject to customary closing conditions, will be acquired by Francisco Partners in an all cash transaction valued at A$315 million. Francisco Partners proposes to acquire all shares and share options in Mincom via a scheme of arrangement that sees Mincom's shareholders receiving A$8.77 in cash per share and option holders receiving A$8.76 in cash per option. "This transaction is exciting news for all of our shareholders, many of whom are current or past employees, allowing them to realize the value of their investment at a substantial premium to the most recently traded share price for Mincom. The board unanimously supports this transaction and recommends that shareholders vote in favor of upon the side of; favorable to; for the advantage of. See also: favor the acquisition," said Bob Savage, Chairman of Mincom. "This acquisition represents strong endorsement of our strategy, market leadership and management team," said Richard Mathews, Chief Executive Officer of Mincom. "We are pleased to be working with Francisco Partners who have exceptional knowledge and expertise in the global technology marketplace. This investment will enable Mincom to pursue an aggressive growth strategy and reaffirms Mincom's commitment to providing its customers and partners with market leading products." "While this will be the end of an era for many of the shareholders, it will be business as usual for the day-to-day operations of Mincom. No changes to the management team, company name, head office location, or product strategy are anticipated, nor will there be any impact on our customers. We certainly look forward to working with Francisco Partners and utilizing their experience and financial strength to execute on our strategic vision," Mr. Mathews said. "We are long-term investors Long-term investor A person who makes investments for a period of at least five years in order to finance his or her long-term goals. in global technology companies who have, and are committed to maintaining, leadership in their markets," said Andrew Gray Andrew Gray or Andy Gray can refer to:
"We have been impressed im·press 1 tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with Mincom's products, client base and management team, all of which have contributed to building one of the most formidable Enterprise Asset Management companies in the world. We are excited by this opportunity to partner strategically with the management team and continue building on the success of the business," Mr. Gray said. The Board of Mincom has unanimously recommended that shareholders vote in favor of the acquisition in the absence of a superior proposal. The transaction is expected to close within the next 90 days. Mincom was advised by the Caliburn Partnership and McCullough Robertson. Francisco Partners was advised by UBS UBS Union Bank of Switzerland UBS United Bible Societies UBS United Blood Services UBS United Buying Service UBS Used Bookstore UBS University Business Services UBS Universal Building Society (UK) UBS Ulaanbaatar Broadcasting System and Allens Arthur Robinson  This article or section is written like an .Please help [ rewrite this article] from a neutral point of view. Mark blatant advertising for , using . . About Mincom Limited Mincom Limited is an international company based in Brisbane, Australia, with more than 25 years' experience in providing business solutions to asset intensive industries such as mining, utilities, transport, defense and government in more than 40 countries. The company has more than 1,200 staff in 18 offices across Australia, North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. , South America South America, fourth largest continent (1991 est. pop. 299,150,000), c.6,880,000 sq mi (17,819,000 sq km), the southern of the two continents of the Western Hemisphere. , South East Asia East Asia A region of Asia coextensive with the Far East. East Asian adj. & n. , Africa, and Europe. For more information about Mincom, visit: www.mincom.com. About Francisco Partners With approximately $5 billion of capital under management, Francisco Partners ("FP") is one of the world's largest technology-focused private equity funds. The firm was founded to pursue structured investments in technology companies at strategic, technological, and operational inflection points Inflection Point An event that changes the way we think and act. -Andy Grove, Founder of Intel. Notes: For example, the fall of the Berlin Wall was an inflection point in global politics and the commercialization of the Internet was an inflection point in technology. . FP pursues investment opportunities where domain knowledge, strategic insight and long-term Long-term Three or more years. In the context of accounting, more than 1 year. long-term 1. Of or relating to a gain or loss in the value of a security that has been held over a specific length of time. Compare short-term. focus generate a differentiated view of investment value and drives superior investment returns. FP makes majority and minority investments in private companies, public companies, and divisions of public companies. With offices in Menlo Park, California Menlo Park is a city in San Mateo County, California in the United States of America. It is located at latitude 37°29' North, longitude 122°9' East. Menlo Park had 30,785 inhabitants as of the 2000 U.S. Census. and London, England, the principals of Francisco Partners have a proven track record, having invested in excess of $3.0 billion of equity capital in over 25 technology companies. For additional information, visit www.franciscopartners.com. |
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