iPerceptions Sale Approved

In Canada, shareholders of customer analytics specialist iPerceptions Inc. have approved the firm's sale to investment company XPND Fund L.P., a deal announced at the end of January.

More than 99% of shareholders approved the sale at a special meeting in Montréal on Tuesday (March 14th), and the associated privatization process should be closed tomorrow. iPerceptions shares will be exchanged for redeemable shares of the newly amalgamated company for a consideration of $0.08 per share, with the exception of those held by a named list of inidividuals and funds (Telesystem Ltd., Jerry Tarasofsky, Capability Snapshot Inc., The Elaine Tarasofsky Family Trust, Stephen James Berns, The Stephen James Berns Trust, Daniel Taras, Robert Duff Anderson, FIER ID, s.e.c. and FIER SUCCÈS, s.e.c.).

The new iPerceptions will keep its name, its current headquarters in Montréal and its focus on online VoC analytics.

The iPerceptions' Board had unanimously recommended the deal when it was first announced. At the time, iPerceptions agreed it would not solicit competing acquisition proposals, but retained the right to consider any further proposals considered 'superior'. President and CEO Claude Guay (pictured) said the transaction reflected iPerceptions' true value, supported its commitment to maximize value for all shareholders and enabled a better future for the corporation.

iPerceptions reported an 11% increase in Q3 revenue to $1.41m, and a reduced operating loss, back in November.

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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