Hummingbird acquired by Symphony Technology
By Bridget Meagher
May 25, 2006 at 08:03 PM
2 minute read
Hummingbird, one of the two largest suppliers of document management systems (DMS) to UK law firms, has announced that Symphony Technology will acquire all of its outstanding shares to the tune of $465m (£250m).
The transaction is subject to the approval of two-thirds of the votes cast by Hummingbird shareholders at a meeting in July.
The acquisition follows an announcement in February that Hummingbird would be buying back 1.5 million of its 17.5 million common shares. At the time, Hummingbird chief financial officer Inder Duggal said the action represented "an investment in our own company".
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