iPerceptions to Be Acquired by Investor XPND

In Canada, investment firm XPND Fund is planning to acquire all the shares of customer analytics specialist iPerceptions in an all-cash deal valued at $0.08 per share.

Last November, iPerceptions reported an 11% increase in Q3 revenue to $1.41m, while operating loss dropped to half the Q3 figure for the previous year, at c.$53k.

iPerceptions has agreed with XPND not to solicit competing acquisition proposals, but has retained the right to consider any further proposals which its Board considers are 'superior'. In the event of receiving a better deal, the firm will be liable for a termination fee of $150,000.

iPerceptions' Board says it has determined that the transaction is in the best interests of both the company and its shareholders, and unanimously recommended the deal (with interested directors abstaining) to other shareholders, who hold approximately 66% of the company.

The transaction is expected to close before the end of the first quarter of 2012, subject to the usual conditions.

iPerceptions' President and CEO Claude Guay commented: 'We are very pleased with this transaction: it better reflects iPerceptions' true value, supports our commitment to maximize value for all our shareholders and enables a better future for the corporation.'

Web site: www.iperceptions.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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