MILWAUKEE — Software tools and
marketing services provider ARI Network Services, Inc. has agreed to
be acquired by an affiliate of True Wind Capital Management, LLC, a
San Francisco-based private equity firm focused on investing in
leading technology companies.
Based in Milwaukee, ARI Network
Services, Inc. is an award-winning provider of SaaS, software tools
and marketing services that help dealers, distributors and
manufacturers sell items.
Under the terms of the
agreement, ARI shareholders will receive $7.10 in cash for each
share of ARI common stock they own. The purchase price represents a
premium of approximately 33 percent to ARI’s average closing price
for the period of 60 trading days ending June 20, according to the
announcement. The all-cash transaction represents an enterprise
value of approximately $140 million and has been unanimously
approved by ARI’s Board of Directors.
“We are very excited to partner
with the True Wind team. This transaction is the result of an
extensive process, and we believe it represents a great outcome for
our shareholders,” said Roy W. Olivier, ARI president and CEO, in a
statement. “The investment by True Wind positions ARI to accelerate
our pace of innovation and better positions ARI to capitalize on
future growth opportunities.“
The transaction is expected to
close in the third calendar quarter of 2017.