GTY Tech Holdings Inc. Comes into Arrangement are Acquired by the GI Partners

GTY Tech Holdings Inc. Comes into Arrangement are Acquired by the GI Partners

Through to closing, GTY Technical Holdings Inc. tend to services due to the fact a directly held providers that have a carried on attract towards the getting cloud software solutions to the societal industry

BOSTON–(Company Wire)–GTY Tech Holdings Inc. (NASDAQ: GTYH) (“GTY” or the “Company”), a prominent merchant from affect software programs towards the personal market, today announced it offers registered toward a decisive arrangement are obtained because of the GI People (“GI”), a prominent individual resource agency. Abreast of conclusion of your own purchase, GTY becomes a privately stored providers.

Beneath the regards to new contract, GTY investors are certain to get upon consummation of your exchange $6

31 for the dollars for each and every display regarding GTY prominent inventory one they hold. The price will bring good worth to help you GTY’s established shareholders and you may is short for a 123% premium along the closure share rates towards the , the past complete exchange day before the exchange statement, and a great 57% premium along side ninety-date volume-adjusted average closing share rates as a result of .

The brand new capital of the GI Lovers commonly help GTY’s good energy into the people market technical industry given that Organization expands assets in sales, sales and you will technology creativity to speed development.

“GI Lovers possess an effective track record of supporting and you can including worth so you’re able to leading software organizations, therefore we are pleased to create to the somebody regarding GI Partners’ caliber,” said TJ Parass, Ceo from GTY. “This deal deliver instant and you will substantial value in order to GTY investors. The organization are certain to get better autonomy to focus on doing our very own approach, and we also is happy to begin with our very own a lot of time-name relationship with GI People.”

“We on GI faith GTY is rolling out a good facts round the the avenues and you may a proper-attained history of high quality and you can in’s commitment to resolve some of governments’ very clicking dilemmas,” said Travis Pearson, Managing Manager and you may Co-Direct away from Individual Equity from the GI People.

Sendil Rajendran, Managing Manager on GI Lovers, extra, “We see solutions getting GTY to continue to help you speeds organic growth as a result of enough fascinating initiatives in which GI keeps strong feel. I anticipate dealing with administration to keep innovating and providing well worth so you can its customers.”

GTY’s Panel regarding Administrators enjoys unanimously recognized the transaction and you will advises that GTY’s shareholders choose and only the order at the unique conference out-of GTY shareholders to-be entitled regarding the your order. An alternate meeting from GTY’s investors could be held just once the practicable following the filing of a definitive proxy report which have the fresh new U.S. Ties and you may Exchange Payment (“SEC”) and further emailing in order to GTY’s investors.

GTY shareholders will get $6.30 for every single share inside cash abreast of brand new closing. The order happens to be expected to close in the 3rd quarter out of 2022 pursuing the acknowledgment away from applicable regulatory approvals together with pleasure off other traditional closure requirements, in addition to recognition of the GTY’s investors.

For additional information regarding new conditions and terms of decisive merger contract, delight select GTY’s Newest Article on Form 8-K, which will be filed in connection with the order.

Shareholders Was Recommended To see The order PROXY Declaration (As well as Any AMENDMENTS Otherwise Supplements THERETO) And any other Relevant Files One to GTY Commonly Document Into SEC When they Become Offered Because they Have a tendency to Contain Important info

Borrowing from the bank Suisse is actually acting as personal monetary coach so you can GTY and you may Davis Graham & Stubbs are serving just like the GTY’s courtroom coach. Goldman Sachs & Co. LLC are acting as economic mentor so you can GI Partners and Ropes & Grey is providing because legal mentor so you’re able to GI Couples.

GTY brings top societal markets technology people together with her to reach a beneficial this new important inside the stakeholder engagement and you may financing government. Along with their half a dozen sections, GTY also offers an intuitive affect-created collection out of possibilities to own county and you will regional governments, training establishments, and medical care teams comprising properties in procurement, payments, grant administration, budgeting, and permitting: Bonfire will bring proper sourcing and you will procurement software to enable convinced and you may agreeable purchasing conclusion; CityBase brings authorities payment approaches to hook up constituents which have tools and you may bodies businesses; eCivis also provides an offer administration program to increase grant revenue and you may tune show; OpenCounter will bring representative-amicable app to compliment people as a result of cutting-edge enabling and you will certification procedures; Questica also provides finances preparation and you will government app to send on economic and you may low-monetary proper expectations; Sherpa brings personal-industry budgeting software and contacting features.

Depending within the 2001, GI Couples was an exclusive financial support corporation along with 125 personnel and you will practices within the Bay area, Nyc, Chicago, Greenwich, and you will Scottsdale. The company enjoys raised more than $32 billion from inside the investment out of leading institutional traders in the world to buy individual equity, a property, and you will studies infrastructure actions. The personal security team spends generally in the businesses from the medical care, They structure, characteristics, and software groups. The true house class centers around technical and you may lifestyle sciences features along with other certified a residential property circles and methods. The info infrastructure team invests mainly in the tough asset structure people underpinning the latest electronic discount. To find out more, please visit gipartners.

Regarding the new proposed purchase of GTY (the newest “Transaction”), GTY plans to document an excellent proxy declaration (the “Exchange Proxy Declaration”) to your SEC about the this new solicitation out-of proxies so you’re able to accept the order. On time shortly after submitting the newest decisive Purchase Proxy Report on the SEC, GTY commonly send the brand new decisive Purchase Proxy Report and you will proxy credit every single stockholder permitted vote within unique fulfilling in order to think about the Deal. Investors get obtain, no-cost, brand new original and definitive models of the Exchange Proxy Declaration, people amendments or tablets thereto, and just about every other relevant documents submitted from the GTY on the SEC concerning the transaction from the SEC’s webpages ( Copies out-of GTY’s definitive Deal Proxy Declaration, people amendments otherwise medicine thereto, and just about every other related data payday loans Maryland submitted of the GTY on SEC concerning the your order will also be offered, no-cost, in the GTY’s web site ( or from the creating so you’re able to GTY, Attention: Buyer Relations, 800 Boylston Path, sixteenth Floor, Boston, Massachusetts, 02199.

GTY, the administrators and you may specific manager officials could be deemed is participants in the solicitation off proxies regarding shareholders concerning your order. Facts off eg professionals, as well as its direct or indirect interests, from the cover holdings otherwise, might be included in the Deal Proxy Statement or any other associated documents to get recorded for the SEC to the the brand new Exchange. Details about GTY’s directors and you can government officers and their control from GTY’s preferred offers is determined forth on the decisive proxy report to possess GTY’s 2022 yearly appointment from shareholders registered on SEC towards the . 100 % free duplicates of them data files may be received as the discussed inside the the new before paragraph.

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