Major Investor in GIPS Informs Company of Strategic Interes Publisert
tirsdag
12.
januar
2010
San Francisco — January 12, 2010 — Global IP Solutions (GIPS) Holding AB (PUBL) (“GIPS” or the “Company”) announced today that the company has been informed by Kistefos AS that Kistefos AS, holding approx. 37% of the shares through its subsidiaries, was approached by an industry leading player regarding an offer for the entire share capital of GIPS.
The investor has notified the Company of its decision to decline to enter into further negotiations, despite an offer price which was at a substantial premium to the current share price.
The Company’s Board of Directors will evaluate the implications of the offer and has retained ABG Sundal Collier to assist in this evaluation. The Company will continue with the previously announced rights offering as planned.
“This reaffirms the value of GIPS technology in the marketplace,” said GIPS Chief Executive Officer, Emerick Woods. “We continue to focus on achieving our operational goals and look forward to sharing our results during the Q4 presentation in Oslo on February 3,” added Woods.
William Scharninghausen, CFO Tel: +1 415.397.2555 Email:
About Global IP Solutions Global IP Solutions (GIPS) provides best-in-class voice and video processing in IP communications. GIPS enables its customers to deliver unmatched quality, with a faster time to market and less risk than alternative solutions. GIPS serves application developers, service providers, and network equipment vendors. Its customer list includes Nortel, Oracle, Samsung, WebEx, Yahoo!, AOL and other key players in the VoIP market. The company is headquartered in San Francisco with offices in Stockholm, Boston and Hong Kong. More information at www.gipscorp.com
