Wednesday, August 18, 2010

Phoenix Technologies Acquired By Marlin Equity

Milpitas-based Phoenix Technologies Ltd., which develops BIOS software, said last night that it has entered into a definitive merger agreement with affiliates of private equity firm Marlin Equity Partners. The deal is worth approximately $139M in cash, or $3.85 per share in cash. Phoenix said the price is a premium of approximately 27 percent over its closing price on August 17th. Phoenix said it was advised by RBC Capital Marketing and Morgan, Lewis & Bockius LLP in the deal, with Marlin being advised by Pepper Hamilton LLP. Phoenix develops BIOS and other related software.