Notable Mergers and Acquisitions of the Day 09/15: (TYC) (FNDT)/(SONE) (CISG)

• Tyco International Ltd. (NYSE: TYC) has entered an agreement to acquire Visonic, Ltd., for approximately $100 million in cash.
  
  Visonic is a global developer and manufacturer of electronic security systems and components.
  
  The transaction is expected to close later this year and is subject to customary closing conditions.
  
  
• GTCR reports, following completion of its due diligence and negotiations with Fundtech Ltd. (Nasdaq: FNDT), it has submitted a proposal to acquire Fundtech, a leading provider of transaction banking software and services to financial institutions, for $23.33 in cash for each Fundtech ordinary share.
  
  GTCR intends to combine Fundtech and BankServ.
  
  Fundtech’s Board of Directors has determined that the GTCR Proposal constitutes a “Company Superior Offer” under Fundtech’s previously announced merger agreement with S1 Corporation (Nasdaq: SONE).
  
  Closing is expected in Q411.
  
  Skadden, Arps, Slate, Meagher & Flom LLP and Herzog, Fox & Neeman served as legal counsel to GTCR. Moelis & Company, RBC Capital Markets and BMO Capital Markets served as financial advisors to GTCR. Royal Bank of Canada, BMO Capital Markets and Newstone Capital Partners provided debt financing in connection with the proposed transaction. GTCR’s proposed investment in Fundtech will be made from GTCR Fund X, a private equity fund raised in 2011 with $3.25 billion of committed capital.
  
  
• CNinsure Inc. (Nasdaq: CISG), reports the Special Committee of its Board of Directors has received a notice from TPG Asia V MU, Inc., Kingsford Resources Limited, a company controlled by Yinan Hu, chairman of the Board of Directors and chief executive officer of the Company, and entities affiliated with him, and CDH Inservice Limited that they have unanimously determined to withdraw the non-binding going private proposal dated May 14, 2011.

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