AIX-EN-PROVENCE, France--(BUSINESS WIRE)--Regulatory News:
Inside Secure (Paris:INSD), at the heart of security solutions for mobile and connected devices, held today its combined shareholders’ meeting. All the submitted resolutions permitting the launch of equity transactions which participate to the financing of the acquisition of Verimatrix, Inc. ("Verimatrix") were approved, i.e., financial delegations for the mandatory redeemable bond issuance reserved for an investment fund of One Equity Partners and a rights issue with preferential subscription rights to existing shareholders.
Amedeo D'Angelo, Chairman & CEO of Inside Secure, said: "Today, we took another decisive step towards the acquisition of Verimatrix and I warmly thank our shareholders who have renewed their support and confidence in our project. Verimatrix is the perfect fit to strengthen scale and reach of our value proposition in end markets that are fast shifting towards software and cloud-based security solutions while video content consumption is becoming multi-device and multi-format.
We are pleased to combine both businesses to offer our clients the best value proposition in security, starting with entertainment and moving towards Internet of Things and Connected Cars, and to continue to create value for our shareholders.”
The acquisition is expected to close in February 2019, following the completion of the rights issue which will be launched in the coming days, subject to prior approval (visa) of the French Autorité des marchés financiers on the prospectus, market conditions, the prior execution of the acquisition agreement with Verimatrix and completion of the related conditions precedent.
The presentation made during the shareholders’ meeting and the detailed outcome of the vote of the resolutions submitted are available on the company's website (https://www.insidesecure-finance.com/EN).
About Inside Secure
Inside Secure (Euronext Paris – INSD) is at the heart of security solutions for mobile and connected devices, providing software, silicon IP, tools, services, and know-how needed to protect customers’ transactions, ID, content, applications, and communications. With its deep security expertise and experience, the company delivers products having advanced and differentiated technical capabilities that span the entire range of security requirement levels to serve the demanding markets of network security, IoT and System-on-Chip security, video content and entertainment, mobile payment and banking, enterprise and telecom. Inside Secure’s technology protects solutions for a broad range of customers, including service providers, operators, content distributors, security system integrators, device makers and semiconductor manufacturers. For more information, visit www.insidesecure.com
Disclaimer
With respect to Member States of the European Economic Area that have transposed European Directive 2003/71/EC of the European Parliament and European Council of November 4, 2003, as amended (the “Prospectus Directive”), no action has been taken or will be taken to permit a public offering of the securities referred to in this press release requiring the publication of a prospectus in any Member State. Therefore, such securities may not be and shall not be offered in any Member State other than in accordance with the exemptions of Article 3(2) of the Prospective Directive or, otherwise, in cases not requiring the publication of a prospectus under Article 3 of the Prospective Directive and/or the applicable regulations in such Member State.
This press release and the information it contains are not, and will not constitute or form part of an offer of securities or a solicitation for the purchase, subscription or sale of securities of Inside Secure in the United States of America or any other jurisdiction where restrictions may apply. Securities may not, directly or indirectly, be offered, sold, pledged or otherwise transferred within the United States of America absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), it being specified that the securities of Inside Secure have not been and will not be registered under the U.S. Securities Act and that Inside Secure does not intend to register its securities or conduct a public offering of its securities in the United States of America.
The distribution of this press release may be subject to legal or regulatory restrictions in certain jurisdictions. Any person who comes into possession of this press release must inform him or herself of and comply with any such restrictions.
