Halogen Shareholders Approve Acquisition by Saba
OTTAWA , April 24, 2017 /CNW/ - Halogen Software Inc. ("Halogen") (TSX: HGN), announced today that its shareholders have approved the previously announced acquisition of all of its issued and outstanding shares by Saba and Vector Capital, together with their affiliates, (the "Vector Group"), other than shares re-invested by Halogen's Executive Chairman Michael Slaunwhite and parties related to him, for CAD$12.50 in cash per share, at a special meeting of shareholders of Halogen held today in Ottawa. The transaction, implemented pursuant to a plan of arrangement under the Ontario Business Corporations Act ("Arrangement"), was approved by 100% of the votes cast by holders of Halogen shares who attended the meeting, in person or by proxy, (including 100% of the votes cast by disinterested holders of Halogen shares).
The Arrangement is subject to final approval by the Ontario Superior Court of Justice (Commercial List) at a hearing which will take place on April 26, 2017, at 330 University Avenue, Toronto, Ontario at 10:00 a.m. (Toronto time). Closing of the Arrangement is expected to occur on or about May 1, 2017, or as soon as practicable thereafter.
About Halogen Software >
Halogen Software (TSX: HGN) offers a cloud-based talent management suite that puts ongoing, next-generation performance management principles at the center of all talent programs, including learning and development, succession planning, recruiting, and compensation. With over 2,100 customers worldwide, the company has been recognized as a market leader by major business analysts and has garnered the highest customer satisfaction ratings in the industry. Halogen's powerful, yet simple-to-use solutions, which also include industry-vertical editions, help organizations win with talent, by aligning their talent and business strategies to deliver exceptional outcomes. For more information, visit: http://www.halogensoftware.com. Subscribe to Halogen Software's TalentSpace blog: http://www.halogensoftware.com/blog/ or follow Halogen Software on Twitter: http://twitter.com/HalogenSoftware.
Saba delivers a cloud-based intelligent talent management and engagement solution used by leading organizations worldwide to hire, develop, engage and inspire their people. With machine learning at its core, Saba Cloud offers proactive, personalized recommendations on candidates, connections and content to help employees and businesses lead and succeed. It is purpose-built on a highly scalable platform that exceeds industry security and reliability standards. Saba has more than 31 million users and 2,200 customers across 195 countries and 37 languages. Learn more about intelligent talent management at www.saba.com.
About Vector Capital
Vector Capital is a leading global private equity firm specializing in transformational investments in established technology businesses. With $3.3 billion of capital under management, Vector identifies and pursues these investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers, and shareholders. For more information, visit http://www.vectorcapital.com/.
Forward Looking Statements
Certain of the statements made and information contained herein is "forward-looking information" within the meaning of the Ontario Securities Act. Forward-looking statements are subject to a variety of risks and uncertainties that could cause actual events or results to differ from those reflected in the forward-looking statements, including, without limitation, those described under Risk Factors in the Company's Annual Information Form and in each management discussion and analysis. Forward-looking information is also based on various assumptions. Should one or more of these risks and uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those described in forward-looking statements. Accordingly, readers are advised not to place undue reliance on forward-looking statements.