Alterian to Acquire Mediasurface
The boards of Alterian and Mediasurface announced that they have reached agreement on the terms of a recommended offer by Alterian to acquire the entire issued and to be issued share capital of Mediasurface. The Offer will be on the basis of 9 pence in cash and 0.0375 of a Consideration Share for each Mediasurface Share. The Offer values the entire issued and to be issued share capital of Mediasurface at approximately £18.1 million and each Mediasurface Share at 15 pence, representing a premium of 150.0 per cent to the Closing Price of 6 pence per Mediasurface Share on 23 April 2008. Alterian is a international provider of enterprise management software with its headquarters in Bristol, UK but with a significant proportion of its operations in North America. The Company employs over 130 staff in the United Kingdom and North America. Since being admitted to the Official List in 2000, Alterian has grown both organically and through the completion of several acquisitions. The Alterian Directors have identified Mediasurface as a strategic acquisition to enhance the Company's online marketing software offering as well as providing a number of additional benefits. The combination of the two businesses would create an Enlarged Group with, on the basis of the last audited accounts of Alterian and Mediasurface, annualised revenues of over £30.0 million and which generates approximately 50 per cent. of its revenue from the sale of online marketing software. The transaction is subject to customary closing conditions and is expected to close late June 2008 and the Directors expect that regardless of the outcome of these discussions, the services that Mediasurface provides to existing and future customers will be unaffected. http://www.alterian.com, http://www.mediasurface.com