Vancouver-based Gemcom Software International Inc. (TSX:GCM) has announced a definitive agreement to be acquired by U.S. companies JMI Equity and the Carlyle Group in an all-cash transaction worth approximately $180 million.
As part of the deal, Gemcom shareholders will receive $2.90 in cash for each share of Gemcom common stock, a 16% premium over Gemcom's average closing price for the last 45 days of trading.
Gemcom's board of directors has endorsed the deal. Pending shareholder approval, it's expected to be completed in July.
Gemcom, a leading supplier of mining software, has clients in more than 90 countries.
JMI Equity is a private equity firm with $1.3 billion under management. It focuses exclusively on software and business services companies. The Carlyle Group is a diversified global private equity firm with $81.1 billion under management.
Gemcom's share price range during the past week: between $2.60 and $2.80; 52-week high: $2.90; 52-week low: $1.45.