decor decor
"Don't be afraid to give up the good to go for the great."

-John D. Rockefeller

Veramark Technologies, Inc. to be Taken Private by Varsity Acquisition LLC

martinwolf transaction

Publicly traded Veramark Technologies, Inc. (VERA:OTCB), a Rochester, NY-based provider of Telecom Expense Management (TEM) solutions, announced today that it has agreed to be taken private by Varsity Acquisition LCC and All Big Ten Holdings, Inc., a wholly owned subsidiary of Varsity.

 

Under terms of the definitive agreement, which has been approved by Veramark’s board of directors, All Big Ten will buy all of the company’s outstanding shares of common stock for $0.98 in cash. The amount is a 38 percent premium over the 90-day average of the company’s shares and a 29 percent premium over the closing price of the company’s shares on April 30, 2013.

 

Veramark President and CEO Tony Mazzullo will continue to serve in his current role, as will all other key members of the management team.Veramark works with companies to take the complexity and expense out of telecom, including managing costly mobile devices and networks. All of the companies solutions are hosted SaaS or available as on-premise software.

Marty Wolf, President of martinwolf | M&A Advisors, says “Veramark has industry-leading IP and strong relationships with its 3,000 customers around the world. Our client’s intention is to help the company find new paths to growth both organically and through acquisition, outside the public view.”

 

To read Veramark’s press release on the acquisition, click here.

martinwolf acted as the financial advisor to Varsity in this transaction.

previous post Back to Articles next post

09 May 2023

DynamicsCon LIVE Conference Information

martinwolf will be attending the DynamicsCon LIVE conference in Scottsdale May 22-25. Book a confidential one-on-one meeting with Michael Rosholt to learn about market trends, current valuations, and how to prepare for a sale.    DynamicsCon attendees are also eligible for a complementary M&A Readiness Scorecard from martinwolf.   Contact Michael Rosholt at mrosholt@martinwolf.com to...

22 Feb 2023

How Microsoft Channel Partners Can Command High Valuations

In today’s rapidly changing ecosystem, simple organic growth doesn’t give Microsoft Channel Partners long-term competitive advantage.   During the last five years, Microsoft Channel Partners have commanded high valuations due to strong and sustainable business models, as well as a track record of profitability. Most were small mid-market businesses that had to decide to be...

31 Jan 2023

Rising Interest Rates Chill Private Equity Pace

After a year of strength on the private equity front, 2022 is now in the rearview mirror and industry professionals anticipate a downgrade in performance for the coming year.   Despite the fluctuations of the past few years, private equity has withstood the challenges relatively well. However, in certain areas such as exit activity and...