Glass Lewis Recommends Technicolor Shareholders to Vote for Vector Capital's Offer and against the JPMorgan Transaction

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• Publié par: fti-consulting
• Nombre de lectures: 26
• Langue: English

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Glass Lewis Recommends Technicolor

Shareholders to Vote for Vector Capital's Offer

and against the JPMorgan Transaction

PR Newswire

SAN FRANCISCO, June 7, 2012

SAN FRANCISCO

,

June 7, 2012

/PRNewswire/ -- Vector Capital, a leading global

technology investment firm, is announcing that Glass, Lewis & Co ("Glass

Lewis"), a leading independent proxy voting advisory firm, issued a report on

June 5, 2012

which recommends that Technicolor shareholders vote

FOR

Vector Capital's offer and

AGAINST

the transaction with JP Morgan Chase & Co.

and One Equity Partners (the "JPMorgan Transaction").

Vector Capital's offer is recommended by both Institutional Shareholder

Services (ISS) and Glass Lewis, the two leading global proxy advisory firms.

In its independent analysis and review of the two competing proposals, Glass

Lewis concluded the following:

"We believe there is clear reason for

shareholders to support the Vector financing in lieu of the board-approved

transaction with JPM. [Vector Capital offers] considerably greater proceeds for

the Company to pursue its Amplify 2015 strategic plan. Vector has historically

invested in technology firms with significant intellectual property, which would

seem to offer no small measure of strategic benefit for Technicolor, a

developer and licensor of IP serving the media and entertainment industries."

Alex Slusky, Managing Partner and Chief Investment Officer of Vector Capital

said:

"The independent recommendations from both Glass Lewis and ISS prove

that Vector Capital's offer is decisively superior to the JPMorgan Proposal.

These recommendations further strengthen our belief that Vector Capital's

offer is in the best interest of Technicolor and its shareholders. We continue to

urge all Technicolor shareholders to follow Glass Lewis and ISS'

recommendations and vote for proposals A-F and against proposals 8-14."

About Vector Capital

Vector Capital is a leading global private equity firm located in

San Francisco

specializing in the technology sector. Founded in 1997, Vector Capital manages

over

$2 billion

in equity capital from a variety of investors, including the world's

most respected university endowments, foundations, financial institutions, and

family offices. Vector Capital has a highly focused investment strategy that

emphasizes technology companies with a high degree of intellectual property

that are in a state of transformation. Since inception, Vector Capital has made

more than 35 investments in public and private companies with an aggregate

value of more than

$2.5 billion

, across sectors including digital media,

infrastructure software, and internet services.