MAM Software agrees to be acquired by KCS for $12.12 per share in cash
MAM Software Group announced that it has entered into a definitive agreement under which it will be acquired by Kerridge Commercial Systems, or KCS, in an all-cash transaction valued at approximately $154.2M. Under the terms of the agreement, MAM stockholders will receive $12.12 per share in cash for each common share of MAM, which represents a 14% premium over the closing price on August 30, 2019 and a 38% premium over the prior 90-day average of $8.80 per share. Following an extensive review of strategic alternatives and a thorough process, MAM's board have unanimously approved the proposed transaction. Following the execution of the merger agreement, stockholders of MAM representing more than 50% of MAM's outstanding shares delivered a written consent approving the transaction and no other approval of MAM's board or stockholders is required to complete the transaction. The transaction is expected to close in or prior to Q4.