MILWAUKEE, June 15, 2012 /PRNewswire/ -- Decision
Insight Information Group, Inc. ("Decision Insight"), an indirect
wholly-owned subsidiary of Property Data Holdings, Ltd. ("Property
Data"), a portfolio company of TPG, today announced that on
June 14, 2012, one of its affiliates
entered into a privately negotiated agreement to acquire ownership
of 2,193,932 common shares ("Common Shares") in the capital of
Automated Benefits Corp. ("ABC") (TSX-V: AUT) from James Swayze, Chief Executive Officer of ABC, at
a price of $0.499 per Common Share,
for an aggregate purchase price of $1,094,772.06 payable in cash. The transaction is
expected to close on or about June 18,
2012. Immediately after the closing of such transaction, Mr.
Swayze will own approximately 9,960,532 Common Shares of ABC and
options to purchase 477,866 Common Shares of ABC.
Property Data currently exercises control or direction over
59,210,816 Common Shares, or approximately 33.28% of the issued and
outstanding Common Shares of ABC. As a result of this transaction,
upon closing, Property Data will exercise control or direction over
an aggregate of 61,404,748 Common Shares, representing
approximately 34.10% of the issued and outstanding Common Shares of
ABC.
The Common Shares are being acquired for investment purposes
only. Property Data or its affiliates may in the future acquire or
dispose of Common Shares or other securities of ABC, in the open
market or in privately negotiated purchases or otherwise, in each
case to the extent then permitted by applicable law and regulation.
The Common Shares are being acquired pursuant to the private
agreement take-over bid exemption in Section 4.2 of Multilateral
Instrument 62-104 Take-over Bids and Issuer
Bids and in compliance with the requirements thereof.
About Decision Insight Information Group
Decision Insight Information Group, located in the U.S.,
Canada and Europe, delivers a comprehensive range of
information, infrastructure and decision support products and
services for financial and legal professionals. Operating at
the heart of the property industry, Decision Insight Information
Group manages complex information solutions and provides clarity on
decision making for buying, selling, conveyancing, financing and
insurance. Decision Insight companies include MSB and DataQuick in
the U.S., Access Point Information Canada, SearchFlow, xit2 and
Decision Insight Hub in the UK, Millar & Bryce in Scotland, Rochford Brady Group in the
Republic of Ireland, and
Wertweiser, a joint venture with HVB Bank, in Germany. Decision Insight has 1,100 employees
in 16 offices. For more information, visit
www.decisioninsightgroup.com. Decision Insight Information Group is
a TPG portfolio company.
SOURCE Decision Insight Information Group, Inc.