Vocus, Inc. (NASDAQ:VOCS) All Set To Be Acquired By GTCR

Posted by admin April 11, 2014 0 Comment 1766 views

Beltsville-headquartered Vocus, Inc. (NASDAQ:VOCS), a provider of cloud-based marketing and public relations software, has been acquired by a private equity firm GTCR for $446.5 million. In an all-cash merger deal, GTCR’s affiliate GTCR Valor Merger Sub, Inc. has agreed to buy all of the outstanding shares of Vocus’ common stock for $18 per share.

The offer price per share for common stock represents a premium of 48 percent over Vocus’s closing share price on April 4, 2014, which was the last trading day before the merger announcement.

Under the terms of the deal, the private equity firm will also buy all outstanding shares of Vocus’s Series A Convertible Preferred Stock for its stated value of $77.3 million.

The merger agreement has been approved by Vocus board of directors, and the company recommends the shareholders tender their shares in the offer. Any shares not tendered in the offer will be acquired in a second-step merger at the same cash price as paid in the offer, the company said.

“For our shareholders, this agreement provides an opportunity to realize cash value for their shares at a significant premium to historical share prices,” said Rick Rudman, CEO of Vocus. “For our employees and customers, we believe that joining forces with GTCR creates a significant opportunity to utilize each other’s strengths and move even faster toward our vision of creating innovative software and making our customers successful.”

Upon the closure of the transaction, Vocus will become a private company. The transaction is expected to close before the end of the second quarter of 2014.

Vocus, Inc. (NASDAQ:VOCS) is planning to post their first quarter 2014 earnings results on or before April 30, 2014. The company, however, will not hold an investor call to discuss financial earnings, citing the pending transaction an issue.

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