Huntsville, Alabama, USA, November 29, 2006 – Intergraph Corporation, a provider of spatial information management (SIM) software, today announced the completion of the acquisition of Intergraph by an investor group led by Hellman & Friedman LLC and Texas Pacific Group.
Intergraph had announced on August 31, 2006 a definitive agreement with the investor group regarding the acquisition of the Company in a transaction valued at approximately $1.3 billion. Under the terms of the agreement, Intergraph stockholders will receive $44.00 in cash, without interest, for each share of Intergraph common stock held.
Intergraph stock will cease to trade on the NASDAQ Global Select Market at market close today and will no longer be listed. Intergraph has appointed Computershare Shareholder Services, Inc. as paying agent, and, as soon as practicable, will mail a letter of transmittal and instructions to all Intergraph stockholders of record.
R. Halsey Wise, Intergraph President & CEO said on this occasion: “We are pleased with the successful outcome of this transaction, which has provided great value to our public shareholders. We believe the acquisition represents an endorsement of our business transformation efforts and the operational progress we have made over the past several years. I attribute our success to the people of Intergraph, whose determination and dedication to our modern mission have made these results possible.”
“We look forward to working with Hellman & Friedman and Texas Pacific Group in this next chapter of our corporate history. We remain deeply committed to delivering differentiated solutions to the markets we serve, and we now expect to have even greater flexibility to invest in our customers, technology, people and future.”
John Marren, Senior Partner at Texas Pacific Group said, “Intergraph begins its new life as a private company today. I would like to thank the many contributors who made this transaction possible.”
David R. Tunnell, Managing Director of Hellman & Friedman LLC said, “As a private company, Intergraph now enters a new phase of growth and opportunity. We look forward to working with the people of Intergraph to grow long-term business value by addressing the specific technology needs of the Company’s customers and markets.”
Hellman & Friedman and Texas Pacific Group, both based in San Francisco, have previously partnered on a number of investments, including Linsco/Private Ledger (LPL Financial Services) and Texas Genco. Investing alongside the lead investors is JMI Equity, a Baltimore and San Diego-based private equity firm exclusively focused on software and Internet driven businesses.
