[May 13, 2013] Avista Capital Partners begins purchase of Telular shares Tweet May 13, 2013 (TELECOMWORLDWIRE via COMTEX) -- Avista Capital Partners said that ACP Tower Merger Sub, Inc. has commenced the cash tender offer for all outstanding shares of common stock of Telular Corp. (NASDAQ: WRLS) at a price of USD12.61 net per share, without interest and less applicable withholding taxes thereon. The tender offer is being made in connection with the agreement and plan of merger, dated April 29, 2013, among Telular, Avista and ACP Tower Holdings, LLC, which Avista Capital Partners and Telular Corp. announced on April 29, 2013. The Telular board of directors unanimously approved the proposed acquisition by Avista Capital Partners and recommends that Telular's stockholders accept the offer and tender their shares to Purchaser in the tender offer. The tender offer and withdrawal rights are scheduled to expire at 12: 00 midnight (New York City time) at the end of the day on Friday, June 7, 2013, unless the tender offer is extended or earlier terminated. Telular provides remote monitoring and asset tracking solutions for business and residential customers, enabling security systems and industrial applications to exchange actionable information wirelessly, typically through cellular and satellite technology. For more information, visit www.telular.com. Avista Capital Partners is a leading private equity firm with over USD5bn under management and offices in New York, Houston and London. Founded in 2005, Avista's strategy is to make controlling or influential minority investments in growth-oriented energy, healthcare, communications & media, industrials, and consumer businesses. Comments on this story may be sent to [email protected] [ Back To TMCnet.com's Homepage ]