Lyris recently announced that it has entered into a definitive agreement under which Aurea, a technology solutions provider that enables companies to deliver transformative customer experiences, will acquire Lyris. Under the terms of the agreement, each share of outstanding common stock of Lyris will be exchanged for $.89, payable in cash, and each outstanding share of preferred stock of Lyris will be exchanged for $2.50, payable in cash, in accordance with Lyris’ charter. The transaction has been unanimously approved by the Special Committee of the Lyris Board of Directors, as well as by the entire Lyris Board of Directors.
“This is a significant step forward in the realization of our vision, and a strong validation of our company and strategy,” said John Philpin, CEO of Lyris. “When merged with Aurea, Lyris will form part of a larger well-capitalized company with a broad portfolio of enterprise solutions that will significantly amplify our ability to deliver successful customer experiences. Aurea’s knowledge and resources, combined with the added flexibility we will have as a private company, creates a winning proposition for our customers, partners, employees, and shareholders.”
“We are truly excited by the opportunity to bring Lyris into the Aurea family,” said Scott Brighton, CEO of Aurea. “We view engaging individuals across all marketing channels – including email – as essential to delivering transformative customer experiences. The addition of Lyris will vastly expand our capabilities in this area.”
Completion of the acquisition is subject to conditions including the adoption of the merger agreement by Lyris’ stockholders and other customary closing conditions. The parties expect the transaction to be completed in the second half of 2015. Following completion of the transaction, Lyris’ common stock will be delisted from the OTCB and deregistered from the Securities Exchange Act of 1934.