InterVideo completes its takeover of Ulead - recreated

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bcrabtree
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Joined: Mar 7 1999

Recreated, courtesy of [url=http://www.google.com's/]www.google.com's[/url] cache!

Bob C
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We've just received confirmation that the takeover of Ulead by InterVideo last week did complete.

The original DVdoctor news story is here.

Today's follow-up with details of what's actually been bought is here.

So how do people think this will affect the two companies and what do you reckon was the thinking behind it?

Oh, and here's an extract from the formal release issued by InterVideo

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InterVideo Inc. Announces Final Results of Tender Offer to Purchase Controlling Interest in Ulead Systems, Inc.
Monday April 18, 6:30 am ET

FREMONT, Calif.--(BUSINESS WIRE)--April 18, 2005--InterVideo, Inc. (Nasdaq:IVII - News), a leading provider of DVD software, announced today the final results of its previously announced tender offer to purchase a controlling interest in Ulead Systems ("Ulead") (TSE:2487.TW - News), which expired on April 13, 2005.

Through the tender offer, InterVideo will purchase a total of 33,284,395 shares of Ulead common stock at the price of 30 NT (US$0.95) per share, or a total of $31.6 million.

Following completion of the tender offer and the purchase of additional shares pursuant to a stock purchase agreement, InterVideo is expected to own a total of 62.4% percent of the issued shares of Ulead. This includes shares InterVideo purchased prior to the tender offer.
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Bob C
Last edited by bcrabtree : 19-04-2005 at 23:40. Reason: Add more info

DVdoctor - John Ferrick - then added this:

It was almost predictable the comments from the CEO of Ulead re "business as usual" all we get is better oem access. Don't believe it. No one buys controlling interest in your company for 31.6 million dollars and leaves things as they are. Product priorities will change, executives will change. What happens is that all the stock upside has just been dramatically altered.

John