MILWAUKEE, Aug. 29, 2017 /PRNewswire/ -- ARI Network
Services, Inc. (ARI) (NASDAQ: ARIS) announced today that it has
been acquired by an affiliate of True Wind Capital, a San Francisco-based private equity firm
focused on investing in leading technology companies.
Shareholders approved the transaction on August 28, 2017, and per the terms of the
acquisition, ARI shareholders will receive $7.10 in cash for each share of ARI common stock
they hold.
"We're excited to embark on ARI's next chapter as part of the
True Wind family," said Roy W.
Olivier, ARI President and CEO. "We are now well positioned
to accelerate our pace of innovation and capitalize on future
growth opportunities allowing ARI to cement its position as the
leader in the markets we serve."
"True Wind is very excited to add ARI to our portfolio and begin
our partnership with Roy and his team," said Adam Clammer, Founding Partner of True Wind
Capital.
With the completion of the transaction, ARI is now a privately
held company and will no longer be traded on the NASDAQ.
KeyBanc Capital Markets Inc. and Houlihan Lokey served as financial advisors
to ARI, and Godfrey & Kahn S.C. served as legal
advisor to ARI. Kirkland & Ellis LLP served as legal
advisor to True Wind.
About ARI
ARI Network Services, Inc. (ARI) offers an
award-winning suite of SaaS, software tools, and marketing services
to help dealers, equipment manufacturers and distributors in
selected vertical markets Sell More Stuff!™ – online and
in-store. Our innovative products are powered by a proprietary data
repository of enriched original equipment and aftermarket
electronic content spanning more than 17 million active part and
accessory SKUs and 750,000 equipment models. Business is
complicated, but we believe our customers' technology tools don't
have to be. We remove the complexity of selling and servicing
new and used vehicle inventory, parts, garments and accessories
(PG&A) for customers in the automotive tire and wheel
aftermarket, powersports, outdoor power equipment, marine, home
medical equipment, recreational vehicles and appliance industries.
More than 23,500 equipment dealers, 195 distributors and 3,360
brands worldwide leverage our web and eCatalog platforms to Sell
More Stuff!™ For more information on ARI, visit arinet.com.
About True Wind Capital
True Wind Capital is a
San Francisco-based private equity
firm managing $560 million. True Wind
is focused on investing in leading technology companies. True Wind
is a value-added partner, providing support and expertise that is
rooted in 50+ years of collective investing experience. Visit
truewindcapital.com for more information.
Additional Information
- Follow @ARI_Net on Twitter: twitter.com/ARI_Net
- Become a fan of ARI on Facebook: facebook.com/ARInetwork
- Join us on G+: plus.google.com/117293073211296447579
- LinkedIn: linkedin.com/company/ari_2
- Read more about ARI: arinet.com
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SOURCE ARI Network Services, Inc.