|By Business Wire||
|March 24, 2014 02:30 PM EDT||
Axway (Paris:AXW) (NYSE Euronext: AXW.PA), is continuing to expand its governing flow of data positioning and announces the start of exclusive negotiations for the acquisition of a block representing 61% of Systar’s outstanding shares, exercising joint control over the company, at €5.97 per share, bringing the total amount to €34.3 million.
After finalizing its acquisition of control over Systar, Axway will file a simplified tender offer at the same price of €5.97 per share, targeting Systar’s remaining outstanding shares, in accordance with applicable regulations.
Systar is a leading publisher of operational performance management software which enables companies to maximize the effectiveness of their business activities and IT infrastructure, thereby helping them to become more proactive by anticipating problems, reducing risk factors and increasing their market share. With approximately 150 employees, the company's revenue for the 2012-2013 financial year amounted to €19 million.
Axway aims to continue to expand the operational performance management segment within its Axway 5 Suite and to benefit from the deep synergies already established with Systar regarding solution positioning and its customer base.
Axway will launch an information and consultation process with its employee representatives. The entire operation should be finalized in June 2014.
This document is a free translation into English of the original French press release. It is not a binding document. In the event of a conflict in interpretation, reference should be made to the French version, which is the authentic text.
Axway (NYSE Euronext: AXW.PA), a market leader in governing the flow of data, is a global software company with more than 11,000 public- and private-sector customers in 100 countries. For more than a decade, Axway has empowered leading organizations around the world with proven solutions that help manage business-critical interactions through the exchange of data flowing across the enterprise, among B2B communities, cloud and mobile devices. Our award-winning solutions span business-to-business integration, managed file transfer, API and identity management, and email security– offered on premise and in the Cloud with professional and managed services. Axway is registered in France with headquarters in the United States and offices in 19 countries.
More information is available at www.axway.com
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