Battery Ventures merger consideration for Quovadx increased

By Lisa Kerner

Charlotte, N.C., May 4 - Quovadx, Inc. amended its merger agreement with Battery Ventures, increasing the total consideration to a fixed $139.1 million, or about $3.20 per share, from $136.7 million, or $3.15 per share.

Battery Ventures, a Seattle venture capital firm, announced on April 2 that it would acquire Quovadx.

The original agreement called for the total consideration to increase or decrease depending on a closing day working capital determination, according to a company news release.

Quovadx will hold a special meeting for stockholders following clearance of its proxy materials from the Securities and Exchange Commission, and the transaction is expected to close within 90 days.

Following the merger's close, Quovadx will cease to be publicly traded on the Nasdaq stock market.

Quovadx is a Greenwood Village, Colo., software company.

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