CIMdata PLM Industry Summary Online Archive
3 March 2006
Financial News
Serena Software Stockholders Approve Merger Agreement with Silver Lake Partners
Serena Software, Inc. announced that its stockholders voted to adopt the merger agreement providing for the acquisition of Serena by Silver Lake Partners at a special meeting of Serena's stockholders held today.
The proposed merger was announced on November 11, 2005, and is expected to close on March 10, 2006, pending the satisfaction or waiver of all the closing conditions set forth in the merger agreement. Serena expects that its stock will cease trading on the NASDAQ National Market at market close on March 10, 2006. Under the terms of the merger agreement, Serena stockholders will receive $24.00 per share in cash, without interest, for each share of Serena common stock.
About Serena Software, Inc.
With more than 25 years of experience in managing change throughout the IT environment, Serena Software provides Change Governance software to help global 2000 organizations visualize, orchestrate and enforce effective business processes throughout the IT lifecycle. More than 15,000 organizations around the world, including 96 of the Fortune 100, leverage Serena's integrated change management framework to manage costs, ensure consistent quality of service, mitigate business risks and ultimately profit from change. Serena is headquartered in San Mateo, California, with offices throughout the U.S., Europe, and Asia Pacific. For more information, please visit http://www.serena.com .
About Silver Lake Partners
Silver Lake Partners is a private equity firm focused exclusively on large-scale investing in technology and related growth industries. Silver Lake's mission is to function as a value-added partner to the management teams of the world's leading technology franchises. Its portfolio companies include technology industry leaders such as Avago (formerly Agilent's Semiconductor Products Group), Business Objects, Flextronics, Gartner, Instinet, NASDAQ, Network General, Seagate Technology, SunGard Data Systems, Thomson and UGS. For more information, please visit http://www.silverlake.com .
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