Cherry Tree provided a Fairness Opinion to CorVu in connection with the acquisition by Rocket Software, Inc.
About the acquisition
Rocket Software, Inc., announced the acquisition of CorVu Corporation, an innovative provider of Business Intelligence and Performance Management software solutions (OTCBB:CRVU). The acquisition was completed on Friday, May 18, 2007 through a merger of an acquisition subsidiary of Rocket Software with and into CorVu pursuant to an Agreement and Plan of Merger, dated March 5, 2007.
“CorVu adds an important layer to our Business Intelligence stack that we do not currently have at Rocket. We will be able to offer our OEM partners and customers more options with this deep and comprehensive BI solution.
As previously announced by CorVu, CorVu’s shareholders approved the merger at a special meeting of shareholders on May 10, 2007. As a result of the merger, CorVu is now a wholly owned subsidiary of Rocket Software and is no longer a public company. Former CorVu shareholders are being sent materials to exchange their CorVu shares for the merger consideration to which they are entitled.
According to Rocket CEO Andy Youniss, “CorVu adds an important layer to our Business Intelligence stack that we do not currently have at Rocket. We will be able to offer our OEM partners and customers more options with this deep and comprehensive BI solution.”
Justin MacIntosh, Managing Director & Founder of CorVu, who will continue to run the business unit, says, “We are looking forward to being part of Rocket and to leverage its enterprise infrastructure portfolio as well as its deep relationships with major OEMs. This is not only good for our existing customer base, but it is an important step in broadening the reach of our products.”
About Rocket Software
Rocket Software is a global software development firm that builds Enterprise Infrastructure products for the world’s leading OEMs, networks and software companies. The company’s current lines of business complement and extend strategic OEM offerings in the areas of business intelligence, enterprise and mobile security, relational databases, mobile and wireless computing, and operational support systems (OSS). Rocket’s current OEM relationships and technology partners include IBM, EMC, HP, RSA Security, Microsoft, Nortel, and Motorola. Rocket Software is based in Newton, Massachusetts.