|
|
Article: Cynergy Data Completes Sale of Assets to the Comvest Group for $81 Million.(Company overview)
- Article from:
- Marketing Weekly News
- Article date:
- November 14, 2009
CopyrightCOPYRIGHT 2009 NewsRX. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Cynergy Data and The Comvest Group announced that Cynergy Holdings, LLC, an investment vehicle that is managed by The Comvest Group, has completed the acquisition of substantially all of Cynergy Data's assets for $81 million.
In conjunction with Cynergy Data's September 1, 2009 bankruptcy filing, the company sought approval from the United States Bankruptcy Court for the District of Delaware of its transaction with The Comvest Group as "stalking horse bidder." Following an extensive marketing and sale process, The Comvest Group emerged as the victorious bidder. The bankruptcy court then approved the sale on October 9, 2009, paving the way for the transaction to ...