Marlin Equity Partners, a Los Angeles-based private investment firm with over $1 billion of capital under management, has agreed to acquire all outstanding shares of core systems software company Phoenix Technologies common stock for $3.85 per share in cash, or approximately $139 million in total consideration.

The purchase price represents a premium of approximately 27% over Phoenix’s closing share price of $3.02 on August 17. The company is listed on NASDAQ under the symbol PTEC.

The agreement was unanimously approved by Phoenix’s board of directors and is expected to close before year’s end, provided the transaction meets customary closing conditions as well as the approval of the company’s stockholders.

Thirty years ago, Phoenix’s core systems software helped launch the PC industry with its original BIOS product. A majority of Phoenix Technologies’ revenue still comes from designing, developing, and supporting core system software such as SecureCore Tiano, SecureCore, and Embedded BIOS for computing devices.

The company’s total revenues from continuing operations for the third quarter of fiscal 2010 ended June 30, 2010 were $13.7 million. Gross margin from continuing operations for the third quarter of fiscal 2010 was $11.4 million.

CrunchBase Information
Phoenix Technologies



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