OTTAWA, May 1, 2017 /CNW/ - Halogen Software Inc. ("Halogen") (TSX: HGN) announced today the completion of the previously announced acquisition of all of the issued and outstanding common shares of Halogen by Saba Software Inc., Vector Capital and its affiliates, and Michael Slaunwhite, Halogen's founder, executive chairman and largest shareholder. The acquisition was completed by a plan of arrangement under the Business Corporations Act (Ontario) (the "Arrangement"). On April 26, 2017, the Ontario Superior Court of Justice (Commercial List) approved the Arrangement and declared that it was fair to shareholders of Halogen.
Vector has delivered to the depositary sufficient funds to enable the depositary to make the payments described in the Arrangement. In accordance with the Arrangement, payment will be made to the Halogen shareholders as soon as practicable. Shareholders who own Halogen shares through an intermediary should contact such intermediary for details regarding payment for their shares.
With the completion of the Arrangement, the Halogen common shares will cease to be listed for trading on the Toronto Stock Exchange.
About Halogen Software
Halogen Software (TSX: HGN) offers a cloud-based talent management suite that puts ongoing, next-generation performance management principles at the center of all talent programs, including learning and development, succession planning, recruiting, and compensation. With over 2,100 customers worldwide, the company has been recognized as a market leader by major business analysts and has garnered the highest customer satisfaction ratings in the industry. Halogen's powerful, yet simple-to-use solutions, which also include industry-vertical editions, help organizations win with talent, by aligning their talent and business strategies to deliver exceptional outcomes. For more information, visit: http://www.halogensoftware.com. Subscribe to Halogen Software's TalentSpace blog: http://www.halogensoftware.com/blog/ or follow Halogen Software on Twitter: http://twitter.com/HalogenSoftware.
Saba delivers a cloud-based intelligent talent management and engagement solution used by leading organizations worldwide to hire, develop, engage, and inspire their people. With machine learning at its core, Saba Cloud offers proactive, personalized recommendations on candidates, connections and content to help employees and businesses lead and succeed. It is purpose-built on a highly scalable platform that exceeds industry security and reliability standards. Following the acquisition of Halogen Software, Saba has more than 4,000 customers and 33 million users across 195 countries. For more information, visit http://www.saba.com.
SOURCE Halogen Software
For further information: Media Contacts: Connie Costigan, VP Communications, Halogen Software, 613-270-1011 x 4334, email@example.com; Pete Low, CFO, Halogen Software, 613-270-1011, firstname.lastname@example.org