Notable Mergers and Acquisitions of the Day 1/21: RIMM, ESIO/ZIGO, RVBD, TIER
- Research In Motion Limited (Nasdaq: RIMM) has withdrawn its Cdn$1.50 per common share offer for all of the common shares of Certicom Corp. (Toronto: CIC) as conditions of its offer can no longer be satisfied as a result of the decision issued yesterday by the Ontario Superior Court of Justice.
- Electro Scientific Industries, Inc. (NASDAQ: ESIO) announced that Zygo Corporation (Nasdaq: ZIGO) has notified ESI that the board of directors of Zygo has withdrawn its recommendation in favor of the previously announced merger agreement with ESI.
ESI is surprised and disappointed by the Zygo Board’s decision. ESI does not agree with the Zygo Board’s conclusion, and is evaluating its alternatives under the merger agreement.
- Riverbed Technology (NASDAQ: RVBD) today announced it has agreed to acquire Mazu Networks, a privately-owned company that helps organizations manage, secure and optimize the availability and performance of global applications. The Mazu organization, based in Cambridge, Massachusetts, will become a business unit of Riverbed. In connection with the acquisition of all of the outstanding securities of Mazu, Riverbed will pay approximately $25 million in cash at closing, with an additional possible payment to be paid subsequent to closing based on future sales performance.
Mazu Networks provides a unique, powerful and flexible analysis and reporting software that provides a holistic, real-time view of application usage and performance. This perspective is critical to understanding the application environment and taking the right steps to validate and ensure delivery of business-critical applications across the wide area network (WAN).
- Tier Technologies, Inc. (Nasdaq: TIER) announced that it signed a definitive agreement to purchase substantially all of the assets of ChoicePay, Inc., a leading ePayments solution provider based in Tulsa, Oklahoma. The transaction is for $7.5 million in cash at closing and an earn-out based upon a percentage of the profitability of future defined new client business not to exceed $2.0 million. Tier believes the transaction will be immediately accretive.
As of December 31, 2008, ChoicePay had over 50 contracts and reported $10.1 million in annual revenue.
Create E-mail AlertRelated Categories
Special ReportsStocks Mentioned
-0.36
+0.00Related Entities
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
