Aladdin Knowledge Systems Confirms Receipt of Non-Binding Acquisition Proposal
October 16 2008 - 7:52PM
Marketwired
Aladdin Knowledge Systems Ltd. (NASDAQ: ALDN), an information
security leader specializing in authentication, software DRM and
content security, today confirmed receipt of a non-binding
acquisition proposal.
To clarify statements made earlier today on the Company's third
quarter earnings conference call, and in response to recent press
reports, Aladdin acknowledges that its Board of Directors received
an updated acquisition proposal from Jasmine Holdco LLC, an
affiliate of Vector Capital, on September 20, 2008. The proposal,
to acquire all outstanding shares of the company for $14.50 per
share, is non-binding and subject to a due diligence process.
Following the due diligence process, Jasmine Holdco is under no
obligation regarding this proposal.
Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems,
stated, "The Board of Directors of Aladdin is carefully considering
and reviewing Jasmine Holdco's proposal in consultation with its
independent financial advisors and legal counsel and remains fully
committed to enhancing shareholder value."
About Aladdin
Aladdin Knowledge Systems (NASDAQ: ALDN) is an information
security leader with offices in 12 countries, a worldwide network
of channel partners, and numerous awards for innovation. Aladdin
eToken is the world's #1 USB-based authentication solution,
offering identity and access management tools that protect
sensitive data. Aladdin SafeWord two-factor authentication
technology protects companies' important information assets and
applications. Aladdin HASP SRM boosts growth for software
developers and publishers through strong anti-piracy protection, IP
protection, and secure licensing and product activation. Aladdin
eSafe delivers real-time intelligent Web gateway security that
helps protect data and networks, improves productivity, and enables
compliance. Visit www.Aladdin.com.
Safe Harbor Statement
Certain information presented herein constitutes forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Such forward-looking statements are subject to
known and unknown risks, uncertainties and other factors which may
cause the actual results, performance or achievements of the
company to be materially different from any future results,
performance or achievements expressed or implied by such
forward-looking statements. Such factors include general economic
and business conditions, risks relating to our recent acquisition
of Athena Smartcards and the proposed acquisition of Eutronsec,
including the failure to realize expected synergies, failure to
effectively integrate these businesses into our business and
increasing unexpected liabilities, the loss of market share,
changes in the level of business or anticipated business from a
large customer or customers, failure to achieve anticipated
customer orders, changes in the competitive landscape and other
factors over which the company has little or no control. For more
information, please refer to the Company's filings with the
Securities and Exchange Commission, which are available on the
Commission's website at www.sec.gov.
�2008 Aladdin Knowledge Systems, Ltd. All rights reserved. HASP,
eToken, eSafe, SafeWord, Eutronsec, Aladdin Knowledge Systems and
the Aladdin logos are trademarks or registered trademarks of
Aladdin Knowledge Systems, Ltd. All other product and brand names
mentioned in this document are trademarks or registered trademarks
of their respective owners.
Press Contact: Matthew Zintel Zintel Public Relations
matthew.zintel@zintelpr.com 310.574.8888 Aladdin Company Contact:
Debbie Kaye Corporate Communications Manager
debbie.kaye@aladdin.com 646.468.0481
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