PCB | November 09, 2005
Capri Corp. Agrees to be Acquired by Made2Manage
Capri Corp. announced that it has entered into a definitive merger agreement that will result in its acquisition by Made2Manage Systems Inc.
Made2Manage Systems has agreed to pay $5.0 million in cash to acquire Capri Corp., less an amount equal to all transaction expenses incurred by Capri Corp. As a result of the transaction, shareholders of Capri Corp. will receive approximately $0.23 per share of Capri Corp. common stock, less a per share amount to account for the deduction of Capri Corp.'s transaction expenses. “This acquisition is representative of Made2Manage Systems' focus on better serving and building relationships with our customers by offering them deeper industry expertise and functionality,” said Jeff Tognoni, president and chief executive officer of Made2Manage Systems. “Adding Cimnet to the Made2Manage Systems family will allow us to grow market share and profitability while we expand geographically and strengthen our presence in the PCB manufacturing sector.” “This acquisition will allow Cimnet to be part of a larger and stronger organization,” said Mehul Davé, president of Capri Corp. “Cimnet's customers will benefit from Made2Manage's proven experience in ERP solutions for manufacturers, seasoned executive and development teams, effective business processes, and customer-centric philosophies.” Davé also added that Cimnet customers will not experience any disruption in service delivery, customer support or training during the transition.