Paul Weiss Rifkind Wharton & Garrison LLP : QAD to Be Acquired by Thoma Bravo in $2 Billion Take-Private Transaction

Paul, Weiss is advising QAD Inc.'s Special Committee in the $2 billion all-cash sale of QAD to private equity firm Thoma Bravo. Santa Barbara-based QAD is a leading provider of next-generation manufacturing and supply chain solutions in the cloud. Under the terms of the deal, QAD shareholders will receive $87.50 per share of Class A common stock or Class B common stock in cash. Upon closing, QAD will become a private company.

The QAD Board of Directors formed a Special Committee composed entirely of independent directors to negotiate the transaction with the assistance of independent financial and legal advisors. Following the Special Committee's unanimous recommendation, members of the QAD Board unanimously approved the merger agreement with Thoma Bravo, and recommended that QAD shareholders adopt and approve the merger agreement and the transaction. The transaction is expected to close in the fourth quarter of 2021, subject to customary closing conditions and regulatory approvals.

The Paul, Weiss team includes corporate partners Jeffrey Marell, Krishna Veeraraghavan and Caith Kushner, and counsel Rosita Lee and Jason Tyler; executive compensation partner Jean McLoughlin and counsel Meghan Fox and Ron Aizen; litigation partners Geoffrey Chepiga and Andrew Finch, and counsel Jared Nagley, Steven Herzog and Peter Jaffe; tax partner Brian Krause; intellectual property partner Jonathan Ashtor and counsel Elana Bensoul; and antitrust counsel Yuni Sobel.

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