Aladdin Knowledge, Vector Capital affiliate consider strategic transaction

By Lisa Kerner

Charlotte, N.C., Jan. 6 - Aladdin Knowledge Systems Ltd., in response to media reports, confirmed that it is continuing to discuss a possible strategic transaction with Vector Capital affiliate Jasmine Holdco LLC.

The companies extended the previously announced standstill agreement, which originally expired on Oct. 30, according to Aladdin.

As previously reported, Jasmine withdrew its Aug. 28 demand that Aladdin hold an extraordinary meeting of shareholders after the two companies reached an agreement.

The meeting, scheduled for Oct. 23, was canceled.

At the meeting, Aladdin shareholders would have been asked to consider Jasmine's proposal to replace all of Aladdin's board members except the two appointed in accordance with the Israeli Companies Law.

In August, Aladdin's board rejected Jasmine's bid to buy the company for $13 per share in cash.

The board also rejected Jasmine's alternative proposal to buy Aladdin's digital rights management business for between $125 million and $135 million, a prior news release said.

Jasmine is an affiliate of Vector Capital. SafeNet, Inc., a Vector wholly owned subsidiary, is an Aladdin competitor.

Aladdin is a Petach Tikva, Israel-based company that provides security solutions that reduce software theft, authenticate network users and protect against spam and viruses.

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