Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

EWS improves final SLI offer

By Gavin Evans

Nov. 8 (BusinessDesk) - Texas software investor ESW Holdings has improved its final offer for Kiwi e-commerce software seller SLI Systems.

ESW has confirmed a price of 65 cents, or $41.4 million, for SLI’s shares. That is 3 percent more than the minimum price the company indicated on Oct. 23.

The shares last traded at 57 cents.

Austin-based ESW has also raised its offer for most of the 74 tranches of options Christchurch-based SLI has issued since 2006. The final prices range from from 3 cents to 40 cents, up from 3 cents to 34 cents initially.

ESW buys and grows software companies, targeting firms with an enterprise value of between US$10 million and US$250 million. It indicated an interest in buying SLI in July and was granted permission to carry out due diligence in August.

Its offer was roughly twice the market price last month. It already has acceptances for about 51 percent of the business, including the interests of co-founders Shaun and Grant Ryan, Pie Funds Management and Milford Funds Management.

If successful, ESW plans to delist SLI and expand the business by building on its existing retail relationships. If it doesn't reach the 90 percent threshold to enforce the remaining shareholders to sell, it may waive that condition and instead stack the board with its representatives.

(BusinessDesk)

ends

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO:

Very Small Things: "Game-Changing" 3D Printing Technology Launched

New Zealand microfabrication researchers Andrea Bubendorfer and Andrew Best, the co-inventors of a new way of fabricating very small things with Laminated Resin Printing (LRP), are part of Callaghan Innovation’s MicroMaker3D team launching the new patent pending technology in the US this week. More>>

ALSO: