REDWOOD SHORES, CA -- March 17, 2015—Saba, a global leader in cloud-based intelligent talent management solutions, announced today that a leading independent proxy voting and corporate governance advisory firm, Institutional Shareholder Services Inc. (ISS), has recommended that Saba stockholders vote ‘FOR’ the proposed acquisition of Saba by a group of investors lead by Vector Capital.
As previously announced on February 10, 2015, Saba entered into a definitive acquisition agreement with affiliates of Vector Capital pursuant to which all of the outstanding shares of Saba common stock will be acquired for a price equal to $9.00 per share in an all cash transaction.
Saba delivers a cloud-based intelligent talent management solution used by leading organizations worldwide to hire, develop, engage and inspire their people. With machine learning at its core, intelligent talent management offers proactive, personalized recommendations on candidates, connections and content to help employees and organizations lead and succeed. Saba Cloud is 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.
In connection with the proposed merger, a proxy statement was mailed by Saba to the holders of its common stock. Saba and its directors, executive officers and other members of its management as well as other Saba employees may be deemed participants in the solicitation of proxies from its stockholders in connection with the proposed acquisition. Investors and security holders are strongly advised to read the proxy statement because it contains important information about the proposed acquisition transaction.
VP of Investor Relations