JDA Software Announces Cash Repurchase of Series B Preferred Stock & Common Stock, Appointment to the Board of Directors of C...
September 09 2009 - 7:00AM
Business Wire
JDA® Software Group, Inc. (NASDAQ: JDAS)
today announced that it has repurchased with cash all of its
remaining Series B convertible preferred stock outstanding as of
Sept. 8, 2009. This stock was issued to finance the Company’s
successful acquisition of Manugistics in 2006.
JDA has agreed to purchase from funds affiliated with Thoma
Bravo, LLC (the “Thoma Bravo Funds”) 19,472 shares of its Series B
convertible preferred stock and common stock owned by the Thoma
Bravo Funds, totaling 1,503,387 common equivalent shares for a
purchase price of $30,067,740, which translates to a purchase price
of $20.00 per common equivalent share. At June 30, 2009, JDA had
cash on hand of approximately $93 million.
Hamish Brewer, JDA’s chief executive officer, said, “We
greatly appreciate the capital and expertise that Thoma Bravo and
its representative on our board of directors, Orlando Bravo,
brought in connection with the Manugistics transaction. We are
pleased that in just three years we have been able to essentially
pay off all debt and preferred stock relating to the Manugistics
acquisition. JDA is well positioned to pursue its long-term growth
objectives.”
Orlando Bravo, managing partner of Thoma Bravo,
commented, “We have been delighted with our partnership with JDA
and are happy to have assisted in this cycle of the Company’s
growth plans. This investment and the related acquisition are
exactly the type of ‘win-win’ scenarios we strive for with our
portfolio companies.”
JDA also announced the appointment of Brewer to JDA’s board of
directors as a Class III director. Concurrently with this
appointment, JDA and Brewer entered into an Amended and Restated
Executive Employment Agreement, dated Sept. 8, 2009.
About JDA Software Group, Inc.
JDA® Software Group, Inc. (NASDAQ: JDAS) is the world’s leading
supply chain solutions provider, helping companies optimize
operations and improve profitability. JDA drives business
efficiency for its global customer base of more than 5,800
retailers, manufacturers, wholesaler-distributors and services
industries companies through deep domain expertise and innovative
solutions. JDA's combination of unmatched services, together with
its integrated yet modular solutions for merchandising, supply
chain planning and execution and revenue management, leverage the
strong heritage and knowledge capital of market leaders including
Manugistics, E3, Intactix and Arthur. When supply chain results
matter, companies turn to JDA. For more information about JDA,
visit www.jda.com or contact us at info@jda.com or call
+1.800.479.7382 / +1.480.308.3000.
About Thoma Bravo, LLC
Thoma Bravo is a leading private equity investment firm that has
been providing equity and strategic support to experienced
management teams building growing companies for more than 28 years.
The firm originated the concept of industry consolidation
investing, which seeks to create value through the strategic use of
acquisitions to accelerate business growth. Thoma Bravo applies its
investment strategy across multiple industries with a particular
focus on the software and services sectors. In the software
industry, Thoma Bravo has completed 40 acquisitions across 13
platform companies with total annual earnings in excess of $600
million. For more information on Thoma Bravo,
visit http://www.thomabravo.com/.
We do not believe this press release contains forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. Nevertheless, if remarks in this press release
are considered to be "forward-looking" or to have forward-looking
implications, we would remind our investors and prospective
investors that future events may involve risks and uncertainties.
Other risks and uncertainties that may affect our business are
detailed from time to time in the "Risk Factors" section of our
filings with the Securities and Exchange Commission. As a result of
these and other risks, actual results may differ materially from
those predicted. We undertake no obligation to update information
in this release.
“JDA” is a trademark or registered trademark of JDA Software
Group, Inc. Any trade, product or service name referenced in this
document using the name “JDA” is a trademark and/or property of JDA
Software Group, Inc.
Jda (NASDAQ:JDAS)
Historical Stock Chart
From Jun 2024 to Jul 2024
Jda (NASDAQ:JDAS)
Historical Stock Chart
From Jul 2023 to Jul 2024