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WANdisco PLC Completes Acquisition of AltoStor

Monday, 19 Nov 2012 02:02am EST 

WANdisco PLC announced that it has completed the acquisition of Silicon Valley based software company, AltoStor. Under the terms of the acquisition, WANdisco has purchased 100% of the equity of AltoStor for a total consideration of $5.1 million, of which $3.6 million will be satisfied via the issue of 525,911 new WANdisco ordinary shares (equating to 2.47% of the enlarged issued share capital). Of the 525,911 consideration shares, 37,565 shares will be issued on completion without restrictions on their sale with the balance of 488,346 shares subject to clawback over a three year period under which shares are clawed back if a founder ceases to provide continual service to WANdisco for three years. The number of shares clawed back depends on when continual service ceases. In addition to the above the founders will also receive $1.5m in cash, payable on completion as a signing bonus. 

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