Quisitive Board Recommends Shareholders Approve H.I.G. Capital Acquisition

Deal News | Feb 04, 2025 | Globenewswire

Quisitive Technology Solutions has commenced distributing its management information circular ahead of a special shareholders meeting to approve its acquisition by H.I.G. Capital, a private equity firm. The vote on the arrangement resolution is set for February 28, 2025. The Quisitive board unanimously supports the deal, which resulted from a seven-month strategic review and sale process that included engaging 189 potential buyers after divesting its payment divisions. Shareholders are offered CAD 0.57 per share, representing significant premiums on recent share values, ensuring liquidity and certainty amidst current market volatility. The arrangement is subject to shareholder, regulatory, and court approvals. Quisitive emphasizes the benefits of the proposed acquisition, encouraging shareholders to vote before the deadline on February 26, 2025.

Sectors

Technology
Private Equity
Corporate Finance

Geography

Canada – Quisitive is a Canadian company based in Toronto, and the shareholder meeting is scheduled in Toronto time.
United States – H.I.G. Capital, the acquiring company, is a US-based private equity firm.

Industry

Technology – Quisitive operates within the technology sector, leveraging Microsoft platforms and AI for enterprise solutions.
Private Equity – H.I.G. Capital, involved in the acquisition, is a private equity investment firm.
Corporate Finance – The article involves a strategic financial arrangement process, characteristic of corporate finance activities.

Financials

C$0.57 – Per share cash consideration offered to Quisitive shareholders as part of the acquisition.
57.1% – Premium offered to shareholders over the 20-day volume-weighted average price per share on TSX Venture.
52.0% – Premium provided over the closing share price on December 31, 2024.

Participants

Name	Role	Type	Description
Quisitive Technology Solutions, Inc.	Target company	Company	A premier, global Microsoft partner focusing on leveraging Microsoft cloud and AI technologies.
H.I.G. Capital, LLC	Private equity firm	Company	A private equity investment firm aiming to acquire Quisitive through an arrangement agreement.
1517079 B.C. Unlimited Liability Company	Vendor/Initial Acquirer	Company	An affiliate of H.I.G. Capital, initially entered into the arrangement agreement.
Irving Parent, Corp.	Bidding company/Buyer	Company	The entity assigned to execute the arrangement agreement for acquiring Quisitive.
Laurel Hill Advisory Group	Proxy solicitation and shareholder communications advisor	Company	Provides shareholder assistance and communications for Quisitive.