Sizmek Acquired by Vector Capital

Aug 09, 2016


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Sizmek Inc., a global open ad management company that delivers omnichannel campaigns, announced that it has entered into a definitive agreement with affiliates of Vector Capital, a technology-focused private equity firm, under which an affiliate of Vector will acquire all of the outstanding shares of Sizmek common stock for $3.90 per share in an all-cash tender offer.

Under the terms of the Vector Agreement, Vector will commence a tender offer to purchase any and all of the outstanding shares of Sizmek common stock for $3.90 per share in cash. The purchase price represents a 65% premium to Sizmek's 30-day volume weighted average trading price of $2.36 on August 2, 2016. Upon completion of the transaction, Sizmek will become a privately-held company.

The transaction, which is expected to close by the fourth quarter of 2016, is conditioned upon, among other things, satisfaction of a minimum tender condition, regulatory approvals and other customary closing conditions.  There are no financing conditions associated with the proposed agreement.

(sizmek.com)