Mincom Gets An Offer

January 19, 2007: A US technology-focused, private equity firm has offered A$315 million to acquire Australian software company, Mincom.

The Brisbane-based company has released a statement today that says they have entered into an Implementation Agreement under which the US firm Francisco Partners has offered to buy all shares and options in the public unlisted company.

Mincom says its Board unanimously supports the transaction. “The acquisition represents strong endorsement of our strategy, market leadership and management team,” says Richard Mathews, CEO of Mincom.

Throughout its quarter of a century history in Australia, Mincom has provided enterprise resource planning and asset management software solutions to organisations operating complex capital infrastructure. The company predominantly works in primary resource industries, transportation, defense and government.

Mathews says the deal might represent the end of an era for shareholders, but it will be business as usual for day-to-day operations of Mincom.

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