Tuesday, May 5, 2009

CallWave Looks To Go Private

San Francisco-based CallWave, a developer of mobile and unified communications products, said Tuesday morning that the firm is looking to deregister its stock, and take the company private. The firm said is offering to pay $1.15 per share for its common stock in conjunction with the move, a premium of approximately 44 percent to its closing price Monday. The firm said that going private would give it "more latitude to make decisions" in the firm's long-term "best interests." The firm is using its cash on hand to finance the stock purchase.