Business News

Aladdin Knowledge Systems Confirms Receipt of Non-Binding Acquisition Proposal

Friday 17. October 2008 - Aladdin Knowledge Systems Ltd. (NASDAQ: ALDN), an information security leader specializing in authentication, software DRM and content security, today confirmed receipt of a non-binding acquisition proposal.

To clarify statements made earlier today on the Company’s third quarter earnings conference call, and in response to recent press reports, Aladdin acknowledges that its Board of Directors received an updated acquisition proposal from Jasmine Holdco LLC, an affiliate of Vector Capital, on September 20, 2008. The proposal, to acquire all outstanding shares of the company for $14.50 per share, is non-binding and subject to a due diligence process. Following the due diligence process, Jasmine Holdco is under no obligation regarding this proposal.
Yanki Margalit, Chairman and CEO of Aladdin Knowledge Systems, stated, “The Board of Directors of Aladdin is carefully considering and reviewing Jasmine Holdco’s proposal in consultation with its independent financial advisors and legal counsel and remains fully committed to enhancing shareholder value.”