SunGard Completes Tender Offer for Shares of H.T.E., Inc.Business Editors/High-Tech Writers WAYNE, Pa.--(BUSINESS WIRE)--March 17, 2003 SunGard Data Systems Inc. (NYSE NYSE See: New York Stock Exchange :SDS 1. (company) SDS - Scientific Data Systems. 2. (tool) SDS - Schema Definition Set. ) announced today that it has completed its cash tender offer for the outstanding common shares of H.T.E., Inc. (Nasdaq:HTEI) at a price of $7.00 per share. The tender offer expired, as scheduled, on Friday, March 14, 2003 at 12:00 midnight, New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. time. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. preliminary information received from Wells Fargo Wells Fargo armored carriers of bullion. [Am. Hist.: Brewer Dictionary, 1147] See : Protectiveness Wells Fargo company that handled express service to western states; often robbed. [Am. Hist. Bank Minnesota, N.A., the depositary for the tender offer, HTE HTE Hírközlési És Informatikai Tudományos Egyesület (Hungary) HTE High Temperature Electronics HTE HazMat Trucking Enforcer (software) HTE HighTech Engineering HTE High Tension Electrode HTE High Turnover of Employees shareholders have tendered approximately 15.2 million shares of HTE's common stock, or approximately 95.8% of the outstanding shares. Lake Acquisition Corp. Inc., the wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of SunGard through which the tender offer was made, has accepted for payment all validly tendered shares and will make payment to the depositary for the accepted shares promptly. SunGard intends to acquire the remaining publicly held shares of HTE common stock in a second-step merger in which all remaining HTE shareholders who did not tender their shares in the tender offer will receive the same $7.00 per share in cash paid in the tender offer. As a result of the purchase of at least 80% of the outstanding HTE shares in the tender offer, under applicable law, SunGard will be able to complete the merger without the vote of HTE shareholders. SunGard expects to complete the merger shortly. Following the merger, HTE shareholders will receive information in the mail on the procedure to receive payment for their shares. About SunGard SunGard is a global leader in integrated IT solutions for financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. . SunGard is also the pioneer and leading provider of information availability services. SunGard serves more than 20,000 clients in over 50 countries, including 47 of the world's 50 largest financial services institutions. SunGard is a member of the S&P 500 and has annual revenues of more than $2 billion. Visit SunGard at www.sungard.com. SunGard Forward Looking Statements Statements about the expected timing of the merger, and all other statements in this release other than historical facts are forward-looking statements. These statements are subject to risks and uncertainties that may change at any time, and, therefore, actual results may differ materially from expected results due to a variety of factors, including but not limited to, the satisfaction of the conditions to closing of the merger. Trademark Information: SunGard and the SunGard logo are trademarks or registered trademarks of SunGard Data Systems Inc. or its subsidiaries in the U.S. and other countries. All other trade names are trademarks or registered trademarks of their respective holders. |
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