Global IT services giant CSC has received Federal Court and shareholder approval for its $460 million acquisition of Australian e-health software developer iSoft.
Formed after the merging and acquisition of several life sciences technology companies over the years, iSoft boasts more than 13,000 customers in 40 countries.
The deal passed its final regulatory hurdle when it was approved by shareholders on Friday and by the Federal Court this week. The listed company will cease to trade on the Australian Stock Exchange today.
When asked by CRN how the acquisition would affect iSoft's existing channel partners CSC said it would make a statement shortly.
Court orders approving the deal were to be lodged with the Australian Securities and Investment Commission today.
According to iSoft’s statement to the ASX (pdf), investors holding iSoft shares and options as of 7pm on 26 July would be paid on 29 July, in accordance with to CSC’s offer.
All issued shares and options in iSoft would then be cancelled.
Isoft option holders unanimously approved the proposal last Friday. Majority shareholder OCP also approved the deal, as did investors controlling 96.58 percent of non-OCP shares.
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