Quisitive's Strategic Acquisition Approved by Shareholders
Quisitive's Acquisition Journey
Recently, Quisitive Technology Solutions Inc. (TSXV: QUIS; OTCQX: QUISF), a leader in Microsoft Cloud and AI solutions, announced that its shareholders have overwhelmingly supported the proposed acquisition by an affiliate of H.I.G. Capital, LLC. This marks a significant step in Quisitive's strategic direction, promising exciting new opportunities as they transition under the leadership of H.I.G. Capital.
Shareholder Approval Highlights
During the special meeting to discuss the acquisition, an impressive 98.55% of votes cast by shareholders were in favor of the arrangement. This high level of support illustrates the confidence investors have in the growth potential that this new partnership with H.I.G. Capital is expected to bring. Quisitive managed to garner approximately 80.50% of the votes attached to all outstanding shares, showcasing a robust commitment from its investor base.
What This Means for Shareholders
As part of the acquisition, shareholders will receive cash consideration of C$0.57 for each share they own. However, this offer excludes shares held by “rollover shareholders,” who will exchange their shares for equity in the new structure of the company. The specifics of the arrangement, including the payment process for shareholders, are detailed in the management information circular issued by Quisitive.
Looking Forward: The Future of Quisitive
The acquisition is expected to receive final approval from the Supreme Court of British Columbia in a hearing scheduled shortly. If everything proceeds smoothly, Quisitive anticipates that the transaction will close around mid-March. This acquisition is seen as an essential move for Quisitive as it solidifies its position to leverage the Microsoft platform, enhancing its capabilities in artificial intelligence and cloud solutions.
About Quisitive Technology Solutions
Quisitive has established itself as a premier global partner of Microsoft, known for harnessing the power of the Microsoft Cloud and artificial intelligence to drive meaningful transformation for businesses. The company is dedicated to helping enterprises across various sectors innovate and thrive by maximizing the potential of the Microsoft platform. Their commitment to enabling clients to achieve journeys in AI is at the core of their mission.
Quisitive's Commitment to Innovation
As Quisitive moves forward with this acquisition, the focus remains sharply on innovation. The new partnership with H.I.G. Capital opens doors to expanded resources, a broader strategic framework, and further opportunities for collaboration with industry leaders. By adopting new technologies and prioritizing client needs, Quisitive aims to stay at the forefront of the rapidly evolving tech landscape.
Frequently Asked Questions
What is the recent acquisition of Quisitive about?
Quisitive shareholders approved the acquisition by H.I.G. Capital, allowing shareholders to receive cash consideration for their shares.
What percentage of votes were in favor of the acquisition?
A remarkable 98.55% of the votes cast supported the acquisition, indicating strong shareholder confidence.
When is the expected closing date for the acquisition?
The acquisition is anticipated to close around mid-March, pending court approval and satisfaction of closing conditions.
What cash consideration will shareholders receive?
Shareholders will receive C$0.57 for each share held, except for those shares held by rollover shareholders.
Who can shareholders contact for more information?
Shareholders can reach out to Tami Anders, Chief of Staff at Quisitive, for additional queries regarding the acquisition process.
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