Bangalore, Jun 11 (PTI) Ness Technologies, Inc., a global provider of information technology solutions and services, today announced its merger agreement with an affiliate of Citi Venture Capital International, a global private equity investment fund.
It said the affiliate of CVCI will acquire it in a deal valued at around USD 307 million.
Under the terms of the agreement, Ness stockholders will receive USD 7.75 per share in cash for each share of common stock they hold.
This represents a premium of 17.6 per cent over the closing price of the company?s shares on the Nasdaq Global Select Market on Jun 9, 2011, the last trading day prior to today?s announcement, a company statement said.
Alternatively, it could also mean a premium of 22.2 per cent over the average closing price of the company?s shares over the 30 trading days prior to Jun 10, 2011, the company said.