This Week
  • Car owners, dealers are forced to deal with the effects of the VW emissions scandal.

  • CFO David Klein is leader of the financial team at Constellation Brands.

  • ClickSpark LLC is among a new generation of technology companies in the area.

  • Succession planning has moved to the forefront in the financial planning industry.

  • Liz Madison is bringing the farm to doorsteps across Wayne and Monroe counties.

  • Mirror Show Management grabbed the top spot on the 2015 Rochester Top 100.

Veramark inks agreement to be acquired

Rochester Business Journal
May 1, 2013

Veramark Technologies Inc. Wednesday said it has entered into a definitive merger agreement with Varsity Acquisition LLC and All Big Ten Holdings Inc., a wholly owned subsidiary of Varsity.

Under the agreement, Varsity will acquire all of Veramark’s outstanding common stock in cash for 98 cents a share. The 98 cents price represents a 38 percent premium over the 90-day average of Veramark’s stock and a 29 percent premium over the closing price of Veramark’s stock on April 30.

Officials said, in a statement, that Veramark’s board of directors and a special committee of independent directors from its board unanimously approved the transaction. Veramark said the special committee also reached out to an independent third-party advisor in considering the merger.

The company intends to solicit proxies from its shareholders in support of the merger, officials said. The deal is expected to close in the second quarter.
Look in Rochester Business Journal’s print edition on Friday for more on the Veramark merger.(c) 2013 Rochester Business Journal. To obtain permission to reprint this article, call 585-546-8303 or email

What You're Saying 

There are no comments yet. Be the first to add yours!

Post Your Own Comment


Not registered? Sign up now!

To Do   Text Size
Post CommentPost A Comment eMail Size1
View CommentsView All Comments PrintPrint Size2
ReprintsReprints Size3
  • E-mailed
  • Commented
  • Viewed
RBJ   Google