AMERI Holdings, Inc. cancelled the acquisition of Ciber, Inc. from Lone Star Value Co-Invest I, LP, Lone Star Value Investors LP and Lone Star Value Investors GP managed by Lone Star Value Management LLC and other shareholders.
April 08, 2017
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AMERI Holdings, Inc. (OTCPK:AMRH) made a preliminary, non-binding letter of interest to acquire Ciber, Inc. (NYSE:CBR) from Lone Star Value Co-Invest I, LP, Lone Star Value Investors LP and Lone Star Value Investors GP managed by Lone Star Value Management LLC and other shareholders for $64.3 million on March 13, 2017. The proposal involves consideration of $0.75 per Ciber share consisting of a combination of cash, stock of the new company ("NewCo"), and AMRH 9% Series A Preferred Stock, which was recently created and issued. Ciber stockholders will have the ability to elect to receive, subject to proration, for each Ciber share held, $0.75 in cash; or $0.75 worth of NewCo common stock based on an exchange ratio of 0.115; or $0.75 worth of AMRH 9% Series A Preferred Stock; or a combination thereof. The stock of NewCo will be trading on either the NYSE or NASDAQ stock exchange. In addition, AMERI has formed a stockholder group to nominate two highly-qualified candidates to CIBER's Board of Directors. Robert Pearse and Dru Rai are nominated to Ciber's Board. As of March 14, 2017, Ciber asked its stockholders not to take any action at this time. Houlihan Lokey acted as financial advisor and Kai Liekefett, Lawrence Elbaum and Leonard Wood of Vinson & Elkins LLP acted as legal advisors for Ciber.
AMERI Holdings, Inc. (OTCPK:AMRH) cancelled the acquisition of Ciber, Inc. (NYSE:CBR) from Lone Star Value Co-Invest I, LP, Lone Star Value Investors LP and Lone Star Value Investors GP managed by Lone Star Value Management LLC and other shareholders on April 9, 2017. Capgemini America, Inc. entered into an agreement to acquire substantially all from Ciber, Inc. (NYSE:CBR) on April 9, 2017.
CMTSU Liquidation, Inc., formerly Ciber, Inc., is a global information technology (IT) services company. The Company operates in two segments: North America and International. Its Ciber International segment primarily consists of countries in Western Europe and the Nordic region. Its North America segment is organized into service offerings, which include Independent Software Vendor Relationships (ISV)/Channel Partner Platforms, Managed Services, Business Consulting, Application Development and Management/Staffing, and Software-as-a-Service. It provides project management, application and technical consulting, and database administration for both implementation projects and managed-services engagements. It also provides a solution, Ciber Compliance Suite, which helps SAP customers monitor the usage of their SAP systems. Its business consulting offering helps clients manage their business by offering expertise in IT strategy, enterprise architecture and vertical business processes.
AMERI Holdings, Inc. cancelled the acquisition of Ciber, Inc. from Lone Star Value Co-Invest I, LP, Lone Star Value Investors LP and Lone Star Value Investors GP managed by Lone Star Value Management LLC and other shareholders.