Sajan Enters into Merger Agreement to be Acquired by AMPLEXOR International
26 April 2017
Sajan Inc. (Nasdaq: SAJA) and AMPLEXOR International SA, today announced that a definitive merger agreement has been signed, whereby Sajan will be acquired by a wholly-owned subsidiary of AMPLEXOR International. Under the terms of the merger agreement, Sajan shareholders will receive $5.83 per share in cash for each share of Sajan common stock, representing a 46% premium over Sajan’s closing price as of April 25, 2017.
"We are pleased to announce this agreement," said Shannon Zimmerman, Chairman and CEO of Sajan. "The acquisition has been strategically conceived and results in a uniquely robust global content solution provider with a broad breadth of capabilities far beyond traditional language translation only." Zimmerman continued, "This union immediately creates a strong global provider that possesses a variety of technologies, global content solutions and customer support in numerous countries and a well-aligned culture of innovation shared between the two organizations. Our Board of Directors believes this transaction is in the best interest of our shareholders and affirms Sajan’s value as a leading provider of Language Translation Services. AMPLEXOR was looking for a strong partner in the United States to complement their global organization and found that in Sajan."
"As we sought to strengthen our US presence and grow our Language Services offering and competencies, Sajan proved to be a perfect fit. Sajan’s technology skills, delivery capacity and geographic reach are fully complementary to AMPLEXOR’s" explained Mark Evenepoel, CEO of AMPLEXOR.
Sajan’s committee of independent directors and its Board of Directors have unanimously approved the merger agreement and agreed to recommend that shareholders adopt the agreement and approve the merger.