Ontario-Based Software Provider Auto-Graphics Inc. Acquired for $12 million
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Soutron Global Inc. acquired Ontario’s Auto-Graphics Inc. from Agent Information Software Inc. for $12 million. The transaction included $10.4 million paid at the close of the transaction and an additional $1.6 million held for a potential payment 18 months later. This represents a total price per share of $2.34, which is a 111% premium to the closing price as of March 27.
Auto-Graphics is a SaaS product provider of library management and resource sharing software solutions. Its products are used in more than 6,000 public school libraries and special libraries in North America. The acquisition was backed by Bloom Equity Partners and Atlasview Equity Partners.
“Investing in Soutron Global’s expansion through the acquisition of Auto-Graphics, aligns with our vision of supporting companies that drive industry innovation,” said Bart Macdonald, managing partner of Bloom Equity Partners, in a statement.
Telegraph Hill Advisors acted as financial advisor for Auto-Graphics Inc. and Stubbs Alderton & Markiles LLP acted as legal advisor. Reicker, Pfau, Pyle & McRoy LLP acted as legal advisor for Soutron Global Inc.
Information for this article was sourced from Soutron Global.
