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Vision Solutions acquires Double-Take Software
[July 27, 2010]

Vision Solutions acquires Double-Take Software

Jul 27, 2010 (Datamonitor Financial Deals Tracker via COMTEX) -- Vision Solutions, Inc., a provider of disaster recovery, and data management solutions, has completed the acquisition of Double-Take Software, Inc., a provider of data protection solutions. Both the companies are based in the US.

Update on July 22, 2010: The shareholders of Double-Take Software have approved the proposed acquisition of the company by Vision Solutions.

Announcement (May 17, 2010): Vision Solutions has entered into a definitive merger agreement to acquire Double-Take Software for approximately $242 million.

The Board of Directors of Double-Take has unanimously approved the agreement and has recommended the approval of the transaction to Double-Take's stockholders.

Under the terms of the agreement, Double-Take stockholders will receive $10.55 in cash for each share of Double-Take common stock they hold, representing a premium of approximately 39% and 21% to Double-Take's enterprise value and closing share price of $8.71, respectively, on April 9, 2010, the last business day prior to Double-Take's announcement that its Board of Directors was considering indications of interest to acquire the company.

Bank of America Corporation and Thomas Weisel Partners LLC are serving as financial advisors, while Hogan Lovells US LLP is serving as legal counsel to Double-Take. Kirkland & Ellis, LLP is serving as legal counsel, while Jefferies & Company, Inc. is acting as financial advisor to Vision Solutions on this transaction.

The transaction is expected to close in the third quarter of 2010.

Deal Value (US$ Million) 242 Deal Type Acquisition Sub-Category Majority Acquisition Deal Status Completed: 2010-07-26 Deal Participants Target (Company) Double-Take Software, Inc.

Acquirer (Company) Vision Solutions, Inc.

Deal Rationale The acquisition will emphasize Vision Solutions' focus to provide customers with the best information availability products and support and service in the industry.

Bid Premium ($ per share) 21

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