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Pastimes : Makin' money honey -- Ignore unavailable to you. Want to Upgrade?

To: sandintoes who wrote (2108)	2/28/2006 5:56:59 PM
From: stock leader	Respond to of 2260

i might at some point...

To: sandintoes who wrote (2108)	2/28/2006 7:22:17 PM
From: stock leader	Read Replies (1) \| Respond to of 2260

A buy under...now this is funny.. usually mergers are supposed to result in a higher price lmao Austin Ventures proposes buyout of Canadian company Monday February 27, 6:35 pm ET Austin Ventures LP wants to buy the rest of the shares of 724 Solutions Inc. that it doesn't already own. Austin Ventures says it offered $3.07 per share in cash -- or nearly $17 million -- for the remaining 5.5 million shares of 724 Solutions. Austin Ventures is the largest shareholder of 724 Solutions. ADVERTISEMENT Affiliates of Austin Ventures own 547,854 common shares of Toronto-based 724 Solutions (NASDAQ: SVNX, TSX: SVN) and hold about $8.9 million worth of notes that can be converted to another 2.9 million common shares. Furthermore, partners with Austin Ventures own 5,162 common shares of 724 Solutions. The stock of 724 Solutions closed Monday at $3.64 per share. A news release about Austin Ventures' offer was issued after the stock market closed. A letter from Austin Ventures says the Austin venture capital firm and its advisers are prepared "to work diligently" toward completing the proposed purchase. Austin Ventures set a deadline of March 6 for an agreement on the proposal. Joe Aragona, general partner of Austin Ventures, sits on 724 Solutions' board of directors. John Sims is CEO of 724 Solutions. He co-founded and was president and CEO of Austin-based Tantau Software Inc., a provider of mobile commerce software and professional services. Tantau, founded in 1999, was purchased by 724 Solutions in 2001 for $375 million. Aragona was a member of the board of Tantau, whose investors included Austin Ventures. Software and services from 724 Solutions allow mobile network operators to provide Internet-based network and data services. 724 Solutions went public in 2000 on the NASDAQ and Toronto stock exchanges. For the year ended Dec. 31, revenue at 724 Solutions was $18.3 million, compared with $15.1 million for the previous year. The net loss was $6.1 million, or $1.01 per share, compared with a net loss of $8 million, or $1.34 per share, for the year ended Dec. 31, 2004. Published February 27, 2006 by the Austin Business Journal