UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
SCHEDULE 13D
UNDER THE SECURITIES EXCHANGE ACT OF 1934
(AMENDMENT NO. 1)
SYS
(Name of Issuer)
COMMON STOCK, NO PAR VALUE PER SHARE
(Title of Class of Securities)
785070103
(CUSIP Number)
THOMAS J. MURPHY
C/O GENERAL ATLANTIC SERVICE COMPANY, LLC
3 PICKWICK PLAZA
GREENWICH, CONNECTICUT 06830
TEL. NO.: (203) 629-8600
(Name, Address and Telephone Number of
Person Authorized to Receive Notices
AND COMMUNICATIONS)
February 6, 2008
(Date of Event which Requires Filing
of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report
the acquisition which is the subject of this Schedule 13D, and is filing this
schedule because of Rule 13d-1(e), 1(f) or 1(g), check the following box [ ].
Note: Schedules filed in paper format shall include a signed original and five
copies of the schedule, including all exhibits. See Rule 13d-1(a) for other
parties to whom copies are to be sent.
*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities,
and for any subsequent amendment containing information which would alter
disclosures provided in a prior cover page.
The information required on the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section of
the Act but shall be subject to all other provisions of the Act (however, see
the Notes).
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785070103 Page 2 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic LLC
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
OO
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785070103 Page 3 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
General Atlantic Partners 74, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
PN
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785070103 Page 4 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAP Coinvestment Partners II, L.P.
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
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3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delaware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
PN
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785070103 Page 5 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GapStar, LLC
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Delware
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
OO
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785070103 Page 6 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAPCO GmbH & Co. KG
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2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Germany
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
PN
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785070103 Page 7 of 12
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NAME OF REPORTING PERSON
1 S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
GAPCO Management GmbH
--------------------------------------------------------------------------------
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (a) [X]
(b) [_]
--------------------------------------------------------------------------------
3 SEC USE ONLY
--------------------------------------------------------------------------------
4 SOURCE OF FUNDS
OO
--------------------------------------------------------------------------------
5 CHECK BOX IF DISCLOSURE OF LEGAL PROCEEDINGS IS REQUIRED PURSUANT TO
ITEMS 2(d) or 2(e)
[_]
--------------------------------------------------------------------------------
6 CITIZENSHIP OR PLACE OF ORGANIZATION
Germany
--------------------------------------------------------------------------------
7 SOLE VOTING POWER
-0-
------------------------------------------------
8 SHARED VOTING POWER
NUMBER OF
SHARES 1,401,107
BENEFICIALLY OWNED ------------------------------------------------
BY EACH REPORTING 9 SOLE DISPOSITIVE POWER
PERSON
WITH -0-
------------------------------------------------
|
10 SHARED DISPOSITIVE POWER
1,401,107
11 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
1,401,107
12 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (11) EXCLUDES CERTAIN SHARES
[_]
13 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (11)
7.2%
14 TYPE OF REPORTING PERSON
CO
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ITEM 1. SECURITY AND ISSUER.
This Amendment No. 1 to Schedule 13D is filed by the undersigned to amend and
supplement the Schedule 13D, dated October 26, 2006 (the "Original 13D "), with
respect to the shares of common stock, no par value per share (the "Common
Stock"), of SYS, a California corporation (the "Company"). The address of the
principal executive office of the Company is 5050 Murphy Canyon Road, Suite
200, San Diego, California 92123. Capitalized terms used herein and not
otherwise defined herein shall have the meanings set forth in the Original 13D,
as amended by this Amendment No. 1.
ITEM 2. IDENTITY AND BACKGROUND.
Item 1 is hereby amended and restated as follows:
This statement is being filed by a group, as defined in Rule 13d-5 of the
General Rules and Regulations promulgated under the Securities Exchange Act of
1934, as amended (the "Exchange Act"). The members of the group are General
Atlantic LLC, a Delaware limited liability company ("GA"), General Atlantic
Partners 74, L.P., a Delaware limited partnership ("GAP 74"), GapStar, LLC, a
Delaware limited liability company ("GapStar"), GAP Coinvestment Partners II,
L.P., a Delaware limited partnership ("GAPCO II"), GAPCO GmbH & Co. KG, a
German limited partnership ("KG"), and GAPCO Management GmbH, a German
corporation ("GmbH Management" and, collectively with GA, GAP 74, GapStar,
GAPCO II and KG, the "Reporting Persons"). GAP 74, GapStar, GAPCO II and KG are
referred to collectively herein as the "GA Stockholders." The Reporting Persons
(other than KG and GmbH Management) are located at 3 Pickwick Plaza, Greenwich,
Connecticut 06830. KG and GmbH Management are located at c/o General Atlantic
GmbH, Koenigsallee 62, 40212 Duesseldorf, Germany. Each of the Reporting
Persons is engaged in acquiring, holding and disposing of interests in various
companies for investment purposes.
The general partner of GAP 74 is GA. GA is also the sole member of GapStar.
GmbH Management is the general partner of KG. The Managing Directors of GA are
Steven A. Denning (Chairman), William E. Ford (Chief Executive Officer), John
Bernstein, H. Raymond Bingham, Peter L. Bloom, Mark F. Dzialga, Klaus Esser,
William O. Grabe, Abhay Havaldar, David C. Hodgson, Rene M. Kern, Jonathan
Korngold, Christopher G. Lanning, Jeff Leng, Anton J. Levy, Marc F. McMorris,
Thomas J. Murphy, Matthew Nimetz, Ranjit Pandit, Andrew C. Pearson, Raul Rai,
David A. Rosenstein, Sunish Sharma, Tom C. Tinsley, Oliver Thum, Sean Tong,
Philip P. Trahanas and Florian P. Wendelstadt (collectively, the "GA Managing
Directors"). The general partners of GAPCO II are GA Managing Directors.
The business address of each of the GA Managing Directors (other than Messrs.
Esser, Thum, Leng, Tong, Havaldar, Pandit, Rai, Sharma, Bingham, McMorris,
Tinsley, Bernstein and Wendelstadt) is General Atlantic Service Company, LLC, 3
Pickwick Plaza, Greenwich, Connecticut 06830. The business address of Messrs.
Esser and Thum is General Atlantic GmbH, Koenigsallee 62, 40212, Duesseldorf,
Germany. The business address of Messrs. Leng and Tong is General Atlantic
Service Company, LLC, 18/F One International Finance Centre, 1 Harbour View
Street, Central, Hong Kong. The business address of Messrs. Havaldar, Pandit,
Rai and Sharma is General Atlantic Private Limited, 151-152, 15th Floor, Maker
Chamber VI, 220 Nariman Point, Mumbai 400 021, India. The business address of
Messrs. Bingham and McMorris is General Atlantic Service Company, LLC, 228
Hamilton Avenue, Palo Alto, California 94301. The business address of Mr.
Tinsley is General Atlantic Service Company, LLC, 2401 Pennsylvania Avenue
N.W., Washington D.C. 20037. The business address of Messrs. Bernstein and
Wendelstadt is General Atlantic Limited, 83 Pall Mall, Fourth Floor, London
SW1Y 5ES, United Kingdom. Each of the GA Managing Directors, other than Messrs.
Esser, Thum, Havaldar, Rai, Sharma, Tong, Leng, Bernstein and Wendelstadt, is a
citizen of the United States. Messrs. Esser, Thum and Wendelstadt are citizens
of Germany; Mr. Kern is a citizen of the United States and Germany; Mr. Pandit
is a citizen of the United States and India; Mr. Leng is a citizen of Hong
Kong, SAR; Mr. Tong is a citizen of China; Mr. Bernstein is a citizen of
England; and Messrs. Havaldar, Rai and Sharma are citizens of India. The
present principal occupation or employment of each of the GA Managing Directors
is as a Managing Director of GA.
None of the Reporting Persons and none of the individuals listed above has,
during the last five years, been (i) convicted in a criminal proceeding
(excluding traffic violations or similar misdemeanors) or (ii) a party to a
civil proceeding of a judicial or administrative body of competent jurisdiction
or subject to any judgment, decree or final order finding any violation of
federal or state securities laws or enjoining future violations of, or
prohibiting or mandating activities subject to, such laws.
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785070103 Page 9 of 12
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ITEM 3. SOURCE AND AMOUNT OF FUNDS OR OTHER CONSIDERATION.
No change.
ITEM 4. PURPOSE OF TRANSACTION.
Item 4 is amended by adding the following at the end thereof:
As described in Item 6 of the Original 13D, pursuant to the terms of the Merger
Agreement, of the 1,706,212 shares of Common Stock received by the GA
Stockholders in the Merger, (i) 305,105 shares were placed in a clawback escrow
and subject to forfeiture if the corporation surviving the Merger generated
EBITDA from the Closing Date to December 31, 2007 of less than $1,500,000, in
which case the Company was entitled to receive from this escrow one share for
each dollar of EBITDA less than $1,500,000 and (ii) 170,620 shares were placed
in an indemnity escrow and subject to forfeiture to satisfy claims for breach
by Ai Metrix of its representations, warranties and covenants in the Merger
Agreement. Effective on February 6, 2008, the GA Stockholders forfeited all of
its 305,105 shares of Common Stock in the clawback escrow, and all of the GA
Stockholders' 170,620 shares of Common Stock in the indemnity escrow were
released to the GA Stockholders.
ITEM 5. INTEREST IN SECURITIES OF THE ISSUER.
Item 5 is hereby amended and restated as follows:
(a) As of the date hereof, GA, GAP 74, GapStar, GAPCO II, KG and GmbH
Management each own of record, no shares of Common Stock, 1,159,823 shares of
Common Stock, 89,208 shares of Common Stock, 149,587 shares of Common Stock,
2,489 shares of Common Stock and no shares of Common Stock, respectively,
representing approximately 0.0%, 6.0%, 0.5%, 0.8%, 0.01% and 0.0%,
respectively, of the Company's issued and outstanding shares of Common Stock.
By virtue of the fact that (i) GA is the general partner of GAP 74, (ii) the
managing members authorized and empowered to vote and dispose of the securities
held by GAPCO II are GA Managing Directors, (iii) GA is the sole member of
GapStar and (iv) the GA Managing Directors are authorized and empowered to vote
and dispose of the securities held by KG and GmbH Management, the Reporting
Persons may be deemed to share voting power and the power to direct the
disposition of the shares of Common Stock, which each owns of record. As of the
date hereof, each of the Reporting Persons may be deemed to own beneficially an
aggregate of 1,401,107 shares of Common Stock (calculated on the basis of the
number of shares of Common Stock which may be acquired by the Reporting Persons
within 60 days), or 7.2% of the Company's issued and outstanding shares of
Common Stock.
(b) Each of the Reporting Persons has the shared power to direct the vote and
the shared power to direct the disposition of the 1,401,107 shares of Common
Stock that may be deemed to be owned beneficially by each of them.
(c) Please see Item 3, which is hereby incorporated by reference. Except as
set forth in Item 3 or otherwise herein, to the knowledge of the Reporting
Persons with respect to the persons named in response to paragraph (a), none of
the persons named in response to paragraph (a) has effected any transactions in
shares of Common Stock during the past 60 days.
(d) No person other than the persons listed is known to have the right to
receive or the power to direct the receipt of dividends from, or the proceeds
from the sale of, any securities owned by any member of the group.
(e) Not Applicable.
ITEM 6. CONTRACTS, ARRANGEMENTS, UNDERSTANDINGS OR RELATIONSHIP WITH RESPECT TO
THE ISSUER.
Item 6 is amended by adding the following at the end thereof:
As described in Item 4, of the 1,706,212 shares of Common Stock received by the
GA Stockholders in the Merger, (i) 305,105 shares were placed in a clawback
escrow and subject to forfeiture if the corporation surviving the Merger
generated EBITDA from the Closing Date to December 31, 2007 of less than
$1,500,000, in which case the Company was entitled to receive from this escrow
one share for each dollar of EBITDA less than $1,500,000 and (ii) 170,620
shares were placed in an indemnity escrow and subject to forfeiture to satisfy
claims for breach by Ai Metrix of its representations, warranties and covenants
in the Merger Agreement. Effective on February 6, 2008, the GA Stockholders
forfeited all of its 305,105 shares of Common Stock in the clawback escrow, and
all of the GA Stockholders' 170,620 shares of Common Stock in the indemnity
escrow were released to the GA Stockholders.
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785070103 Page 10 of 12
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The foregoing summaries of the Merger Agreement and the Voting Agreement are
qualified in their entirety by reference to Exhibits 2 and 3, which are
incorporated herein by reference.
ITEM 7. MATERIALS TO BE FILED AS EXHIBITS.
None
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785070103 Page 11 of 12
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SIGNATURES
After reasonable inquiry and to the best of my knowledge and belief, I certify
that the information set forth in this statement is true, complete and correct.
Dated: February 8, 2008
GENERAL ATLANTIC LLC
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: Managing Director
|
GENERAL ATLANTIC PARTNERS 74, L.P.
By: General Atlantic LLC,
Its general partner
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: Managing Director
|
GAP COINVESTMENT PARTNERS II, L.P.
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: A General Partner
|
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785070103 Page 12 of 12
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GAPSTAR, LLC
By: General Atlantic LLC,
Its sole member
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: Managing Director
|
GAPCO GMBH & CO. KG
By: GAPCO Management GmbH,
Its general partner
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: Managing Director
|
GAPCO MANAGEMENT GMBH
By: /s/ Matthew Nimetz
------------------------------
Name: Matthew Nimetz
Title: Managing Director
|
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