In an announcement, Avista Capital Partners had announced that its tender offer for outstanding shares of common stock for Telular Corporation has been successful. The price pegged for each share is at US$12.61 per share, net to the seller without interest after deduction of withholding taxes.
As a result of such completed transaction, Avista Capital Partners would be acquiring Telular by the close of the market today.
Telular Corporation is in the business of providing remote monitoring and asset tracking solutions for its clientele to enable security systems as well as find industrial applications to be exchanged and complted wirelessly using cellular and/or satellite technology.
Avista Capital Partners, on the other hand is one of the top private equity firms having over US$5 billion in its portfolio for management. It operates out of New York, Houston and London. Established back in 2005, it is the firm's strategy to control or influence minority investments in many businesses.
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