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FOR IMMEDIATE RELEASE
Indus and MDSI Combine
in Private Equity Transaction with Vista Equity Partners
New Company Offers Unparalleled
Service Delivery Management Solutions
ATLANTA, GA, January 9, 2007 - Indus International
Inc., a leading Service Delivery Management (SDM™) solution provider,
MDSI Mobile Data Solutions Incorporated, the worldwide leader in
enterprise mobile workforce management software, and Vista Equity
Partners, a $1 billion private equity investment firm based in San
Francisco, CA, today announced the completion of the merger of Indus
and an affiliate of Vista under an agreement and plan of merger,
dated as of October 20, 2006. Under terms of the agreement, Indus
has been acquired by the affiliate of Vista in an all-cash transaction
valued at approximately $240 million and will be combined with MDSI,
a Vista portfolio company. The newly combined Indus and MDSI unites
the leading provider of best-of-breed customer, asset and field
service management solutions with the dominant player in enterprise
workforce management, resulting in the most comprehensive and robust
suite of SDM solutions available today. The stockholders of Indus
will receive $3.85 in cash in exchange for each share of Indus stock.
Greg Dukat, president and CEO of Indus International Inc., will
now serve as CEO of the combined company. According to Dukat, "The
union of Indus and MDSI truly changes the landscape of the Service
Delivery Management market. No other vendor can offer the breadth
and depth of best-of-breed enterprise asset management, customer
management and enterprise workforce management functionality that
our new company now delivers. Furthermore, we are perfectly positioned
to further grow our global client base which includes 50 percent
of the top 10 cable service providers and 90 percent of the top
20 utility companies in North America, as well as some of the world's
largest telecommunications companies.”
Vince Burkett, MDSI's President and CEO, will now serve as COO
of the new company. Burkett added, "The combination of Indus
and MDSI uniquely positions the new company to offer the market's
most robust end-to-end solution for Service Delivery Management.
Together we will provide proven solutions that empower utility,
communications and other commercial field service organizations
to maximize efficiencies in their customer relationships, facilities
and field service operations. In fact, the value of our combined
solutions has already been recognized in the market, as validated
by our recent contract with Eesti Energia. This major European energy
provider just signed a multimillion-dollar contract for a full SDM
solution including both Indus and MDSI applications.”
According to Robert F. Smith, Managing Principal of Vista Equity
Partners, "This transaction combines more than software solutions;
it also creates a powerful team of visionaries and professional
service organizations whose thought leadership and industry expertise
is unmatched. The proven management teams at Indus and MDSI bring
decades of experience and vision which will help them provide the
newly combined client base with a single source for managing and
optimizing their operations.”
Corporate headquarters for the new company will reside in Atlanta,
GA. The company will maintain its satellite offices in the United
States, Canada, Europe and Asia-Pacific.
Credit Suisse has acted as financial advisor, and Alston &
Bird LLP has acted as legal counsel to Indus for this transaction.
About the Combined Indus and MDSI
Indus and MDSI together become the leading provider of
proven Service Delivery Management solutions which enable utility,
communications and other commercial field service organizations
to optimize the management of their customers, workforce, spare
parts inventory, equipment, tools and documentation -- empowering
organizations to maximize efficiencies in their customer relationships,
facilities, workforce and field service operations. With offices
in North America, Europe, the Middle East and Asia-Pacific, the
company has more than 400 clients in select asset-intensive service-based
industries. For more information, visit our Websites at www.indus.com
and www.mdsi.ca.
About Vista Equity Partners
Vista Equity Partners currently invests $1 billion in capital
committed to dynamic, successful technology-based organizations
led by world-class management teams with long-term perspective.
Vista is a value-added investor, contributing professional expertise
and multi-level support toward companies realizing their full potential.
Vista's investment approach is anchored by a sizable long-term capital
base, experience in structuring technology-oriented transactions,
and proven management techniques that yield flexibility and opportunity
in private equity investing. For more information, visit www.vistaequitypartners.com.
Indus is a registered trademark of Indus International, Inc. Other
company and product names may be trademarks of the respective companies
with which they are associated.
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