Mandrakesoft completes Conectiva Acquisition
Posted on: 03/31/2005 01:53 PM
Mandrakesoft shareholders, at the extraordinary shareholders' meeting on March 30th 2005, approved the acquisition of Conectiva, the Brazilian Linux company. The necessary resolutions have been adopted, and thus the acquisition is now effective.
As a result, Mandrakesoft now owns 100% of Conectiva's stock, and the former shareholders of Conectiva are now shareholders of Mandrakesoft. The transaction was completed as an all stock transaction, with the issuance of 245,516 new Mandrakesoft shares, representing an agreed 1,792,267 euros at an average agreed price of 7.30 euros per share.
ABN AMRO Ventures (Jersey) Ltd , formerly the largest shareholder of Conectiva, is now a shareholder of Mandrakesoft.
The integration of the two companies is currently in progress.
The Mandrakesoft Management Team.