The $240 million cash deal will bring together providers of asset management software and mobile workforce management software.
Consolidation in the software market segment continues. Indus International Inc., an Atlanta-based asset management software provider, MDSI Mobile Data Solutions Inc., a Richmond, British Columbia, Canada, provider of enterprise mobile workforce management software, and Vista Equity Partners, a $1 billion private equity investment firm based in San Francisco have completed the merger of Indus and an affiliate of Vista under an agreement and plan of merger, dated Oct. 20, 2006. Under terms of the agreement, Indus has been acquired by the affiliate of Vista in an all-cash transaction valued at approximately $240 million and will be combined with MDSI, a Vista portfolio company. The stockholders of Indus will receive $3.85 in cash in exchange for each share of Indus stock.Greg Dukat, president and chief executive officer of Indus International, will now serve as CEO of the combined company. Vince Burkett, MDSI's President and CEO, will serve as chief operating officer of the new company. Corporate headquarters for the new company will reside in Atlanta. The company will maintain its satellite offices in the United States, Canada, Europe and Asia-Pacific.A new name for the combined company will be announced in the near future, the companies said. Indus International Inc.www.indus.comMDSIwww.mdsi.caVista Equity Partnerswww.vistaequitypartners.com
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