Siris Capital, research & investing information firm, headquartered in New York and founded 2011, announced to have completed the acquisition of Stratus Technologies, the producer of fault tolerant systems famous for its Stratus’ 99.999% uptime.
Siris Capital Group is acquiring Stratus Technologies for approximately $352 million, a transaction that was already announced on March 31, 2014.
This acquisition will lead Stratus and some of its affiliates to file certifications with the Securities and Exchange Commission of the termination of their respective duties to file reports under Section 15(d) of the Securities Exchange Act of 1934, as amended, and intend to cease filing such reports thereafter.
Financial advisor was Jefferies LLC and Gibson Dunn & Crutcher LLP acted as legal counsel to Stratus. Wells Fargo Securities, LLC and Macquarie Capital (USA) Inc. acted as M&A advisors to Siris and Simpson Thacher & Bartlett LLP acted as legal advisor to Siri.
Dave Laurello, President and CEO, Stratus Technologies, said:
Our new ownership structure will enable us to continue to invest in our existing solutions while accelerating our next-generation software and cloud businesses, going forward, our customers and partners will continue to experience the same dedication to innovation, customer service and support that they have come to expect from Stratus.
Dan Moloney, Siris Capital Executive Partner, said:
Stratus has great technology, great customers and great people, our investment will give Stratus the financial stability to continue to invest in and deliver the world-class products and services their customers rely on and further their position as the global market leader of availability solutions.