decor decor
"Don't be afraid to give up the good to go for the great."

-John D. Rockefeller

Veramark Technologies, Inc. to be Taken Private by Varsity Acquisition LLC

martinwolf transaction

Publicly traded Veramark Technologies, Inc. (VERA:OTCB), a Rochester, NY-based provider of Telecom Expense Management (TEM) solutions, announced today that it has agreed to be taken private by Varsity Acquisition LCC and All Big Ten Holdings, Inc., a wholly owned subsidiary of Varsity.

 

Under terms of the definitive agreement, which has been approved by Veramark’s board of directors, All Big Ten will buy all of the company’s outstanding shares of common stock for $0.98 in cash. The amount is a 38 percent premium over the 90-day average of the company’s shares and a 29 percent premium over the closing price of the company’s shares on April 30, 2013.

 

Veramark President and CEO Tony Mazzullo will continue to serve in his current role, as will all other key members of the management team.Veramark works with companies to take the complexity and expense out of telecom, including managing costly mobile devices and networks. All of the companies solutions are hosted SaaS or available as on-premise software.

Marty Wolf, President of martinwolf | M&A Advisors, says “Veramark has industry-leading IP and strong relationships with its 3,000 customers around the world. Our client’s intention is to help the company find new paths to growth both organically and through acquisition, outside the public view.”

 

To read Veramark’s press release on the acquisition, click here.

martinwolf acted as the financial advisor to Varsity in this transaction.

previous post Back to Articles next post

18 Oct 2021

CDW To Acquire Sirius Computer Solutions

Financial Information ($USD) Enterprise Value: $2.5 Billion EV/REV: 1.23x Transaction Details CDW Corporation today announced it has entered into a definitive agreement to acquire Sirius Computer Solutions, Inc from an affiliate of Clayton, Dubilier & Rice for $2.5 billion in cash. Sirius, a leading provider of secure, mission-critical technology-based solutions, generated 2020 net sales of $2.04 billion with approximately 3,900...

29 Sep 2021

H.I.G. Capital Announces Sale of Trace3

Financial Information Not Disclosed Transaction Details H.I.G. Capital announced that one of its affiliates has entered into a definitive agreement to sell Trace3, a premier provider of IT solutions and services, to affiliates of American Securities. Financial terms of the transaction are not being disclosed, but the press release cites Trace3 revenue of $1.4 billion....

02 Aug 2021

TowerBrook Capital Partners Makes Strategic Investment in EisnerAmper LLP

Transaction Details TowerBrook Capital Partners, an international investment management firm, has made a strategic investment in EisnerAmper, one of the largest professional services firms in the world, offering premier accounting, tax and business advisory services. The firm will now operate two divisions: EisnerAmper LLP, a licensed CPA firm, will provide attest services; and Eisner Advisory Group LLC,...