Aladdin Knowledge Systems shareholders to decide going-private transaction Feb. 20

By Lisa Kerner

Charlotte, N.C., Feb. 12 - Aladdin Knowledge Systems Ltd. urged its shareholders to vote in favor of the company's going-private transaction with Vector Capital affiliate Jasmine Merger Corp. Ltd. at a special meeting on Feb. 20.

In January, an investor group led by Vector Capital agreed to acquire Aladdin for $11.50 per share in a transaction valued at approximately $160 million.

According to Aladdin, proxy advisory firms RiskMetrics Group/ISS, Glass Lewis & Co. and Egan-Jones Proxy Services recommended shareholders approve the deal.

It was previously reported that Aladdin directors including company chairman and chief executive officer Yanki Margalit entered into a voting agreement for 19% of the outstanding shares and will vote in favor of the acquisition.

Vector said it will add Aladdin's DRM and authentication assets under common management with those of Aladdin competitor and Vector subsidiary SafeNet Inc.

In August, Aladdin's board rejected Jasmine's bid to buy the company for $13.00 per share in cash and Jasmine's alternative proposal to buy Aladdin's digital rights management business for between $125 million and $135 million.

Aladdin is a Petach Tikva, Israel-based company that provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

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