Acressa, owned by a private equity firm with offices in Chicago’s Sears Tower and in San Francisco’s Transamerica Pyramid, announced that they have entered into a definitive agreement under which Intraware will be acquired in a transaction valued at approximately $27 million. Intraware shareholders will be paid $4 in cash per share in this deal, which should close in December or January. This represents a premium of approximately 29 percent over the closing price of Intraware’s common stock on October 17, 2008.
Intraware makes software similar to that of Acresso, used in tracking and managing software and licenses for products sold to customers. Intraware’s SubscribeNet® platform and strong market position in Software-as-a-Service (SaaS) entitlement management and electronic software delivery will extend the global leadership of Acresso’s FLEXnet® Suite for entitlement and compliance management.
“Thoma Bravo has a successful track record of consolidating strong, growing companies in a number of industries,” added Mr. Bravo. “Based on our consolidation expertise, particularly within software, we strongly believe the combination of Acresso Software and Intraware Incorporated will benefit existing customers of both companies and accelerate earnings growth
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