Jan. 25 at 3:08 PM
$LGTY Aptean to acquire Logility for
$14.30 per share in all-cash deal
Aptean, a global provider of mission-critical enterprise software solutions backed by TA Associates, Insight Partners, Charlesbank Capital Partners, and Clearlake Capital Group, L.P.. announced that it has entered into a definitive agreement to acquire Logility Supply Chain Solutions. Under the terms of the agreement, Aptean will acquire all of Logility's outstanding common stock for
$14.30 per share in an all-cash transaction. The per share purchase price represents a 27.0% premium to the January 23, 2025 Logility closing share price and a 28.4% premium to the 30-day volume-weighted average share price as of that date.
In addition, the per share purchase price represents a 30.1% premium to the unaffected Logility closing share price on Friday, December 6, 2024, prior to 2717 Partners' public letter on December 9, 2024, calling for Logility to review strategic alternatives, and a 34.1% premium to the 30-day volume-weighted average share price as of that date. "Logility possesses years of experience helping global organizations design, build, and manage their supply chains" said Aptean's CEO, TVN Reddy. "The Logility platform delivers a mission-critical suite of AI-powered supply chain planning solutions designed to address even the most complex requirements. We look forward to welcoming Logility's loyal customers and experienced team to Aptean."
The transaction is expected to close in the second quarter of 2025, subject to customary closing conditions, including approval of the transaction by Logility's shareholders and receipt of regulatory approvals. The Logility Board of Directors unanimously approved the definitive agreement and recommends that Logility's shareholders vote in favor of the transaction. The transaction is not subject to a financing condition. Upon completion of the transaction, Logility will become part of a privately held company, and its shares of common stock will no longer be listed on The Nasdaq Global Select Market or any other public market.
