AFCV Holdings, LLC, a portfolio company of growth equity investor Summit Partners, has completed the acquisition of Answers.com
Answers.com common stockholders will receive $10.50 per share in cash. The holders of Answers.com’s Series A and Series B convertible preferred stock will receive cash consideration based on the number of the common stock into which those shares were convertible at the time of the merger.
As a result of the acquisition, Answers.com’s common stock has ceased trading on The NASDAQ Capital Market.
UBS Investment Bank has acted as exclusive financial advisor and Kramer, Levin, Naftalis & Frankel, LLC as legal advisor to Answers.com. Jefferies & Company, Inc. has served as financial advisor and Wilson Sonsini Goodrich & Rosati, Professional Corporation as legal advisor to AFCV Holdings.
USA, New York, NY
- Answers.com to be acquired for $127 million in cash: $10.50 per share Posted on February 4, 2011