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Verisae to Purchase ViryaNet [Professional Services Close - Up](Professional Services Close - Up Via Acquire Media NewsEdge) ViryaNet Limited has reported that it has signed a share purchase agreement, agreeing to be acquired by Verisae, Inc. According to a release, the agreement calls for Verisae to acquire ViryaNet for a cash consideration of $18,825,000, subject to a net cash adjustment to be made as of the closing of the transaction. ViryaNet currently anticipates that the consideration per share payable at closing shall be in the range of $3.15 - $3.40 per share. Closing is expected within approximately 60 days, subject to regulatory approvals in Israel and approval by ViryaNet's shareholders. "The acquisition of ViryaNet is an exciting opportunity to continue our mobile workforce management journey and to deliver innovative solutions that empower service organizations to achieve their business goals," stated Memy Ish-Shalom, President and Chief Executive Officer of ViryaNet. "Together with Verisae, we are better positioned to accelerate the delivery of our joint vision, which will benefit our employees, customers and future growth." "We are pleased to have ViryaNet as part of Verisae's family of cloud software products," stated Jerry Dolinsky, CEO of Verisae. "By adding ViryaNet's comprehensive mobile workforce capability to our end-to-end facility platform, our customers will have the ability to improve the productivity of their mobile workforce. The combination of our companies will allow us to better understand and support the needs of the market throughout the entire spectrum of the service supply chain." Verisae is a provider of SaaS solutions. ViryaNet delivers mobile workforce management solutions. More information and complete details: verisae.com ((Comments on this story may be sent to [email protected])) (c) 2014 ProQuest Information and Learning Company; All Rights Reserved. |