Silverlake Offer for Finzsoft Closed

UPDATE: SILVERLAKE OFFER FOR FINZSOFT CLOSED

The offer to shareholders of New Zealand banking and finance software company Finzsoft Solutions Limited (“Finzsoft”) closed on 30 March, with the new majority shareholder Silverlake HGH Limited (“Silverlake HGH”) accumulating a 87.89% per cent stake in Finzsoft.

The takeover offer was announced in December 2014 when interests associated with Finzsoft’s managing director Andrew Holliday formed a company, Silverlake HGH, with Silverlake Axis Limited. The offer was declared unconditional on 1 March 2015 when Andrew Holliday’s interests accepted the NZ$3.00 per share offer in relation to all of their 65% shareholding in Finzsoft.

Mr Holliday says he is very happy with the outcome: “We are now proud to be a Silverlake Axis company, and after co-exhibiting at the recent Asian Financial Congress, have already had a glimpse of what we can achieve together. With a natural alignment of target customers, technologies and similar growth aspirations, we look forward to a symbiotic relationship with our cornerstone shareholder.”

Finzsoft will have the opportunity to pursue its Asia Pacific growth agenda when a group of the company’s senior management and directors attend the upcoming ASEAN Business Club Forum in Singapore next month at the invitation of Silverlake Axis. The ASEAN Business Club Forum is a private sector initiative where over 300 business leaders from the ASEAN region come together to network, collaborate and discuss trade and industry issues.

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About Finzsoft:
Finzsoft Group, a Silverlake Axis Group Company, creates innovative, transformational products and services designed around the people that use them. Since its launch over 25 years ago, the company has provided financial software and solutions for banks and financial institutions in Australasia. Finzsoft has offices in Singapore, Malaysia, Australia and Auckland and employs over 90 people.www.finzsoft.com

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