Hale Global and QL2 Software, Inc. today announced that they have completed the plan of reorganization previously approved by the bankruptcy court. The reorganized company is named QL2 Software, LLC.
The plan of reorganization pays allowed creditor claims in full, with consideration for equity holders and exit financing to support the growth of QL2.After six months of work, we are extremely excited to complete QL2’s reorganization,” said Charles Hale, President of Hale Global. “With Hale Global’s backing, and the skills .of its veteran executive team going forward, QL2 will continue to build on its pioneering leadership in the real-time competitive data market, while keeping customer satisfaction our number one operational priority.
QL2 is extremely excited about our future,” said Paul Campbell, Senior Vice President of Field Operations. “We have emerged in a strong position to continue the market-leading, innovative data services that our customers worldwide rely on to run their businesses.”
“On behalf of the committee, we are pleased that allowed creditor claims have been paid in full, with interest,” said Larry Reamof Bullivant Houser Bailey, counsel to the official committee of unsecured creditors. “Hale Global proved a reliable and experienced equity sponsor, and the creditors look forward to working with the reorganized QL2 in the future.
QL2 is the industry leader in providing services and technology for near real-time pricing and product data from unstructured sources such as the Web. With over 200 customers across more than 35 countries, “QL2data” drives better business decisions and increased revenue. QL2’s customers include 7 of the top 10 global airlines, 5 of the top global online travel agencies, and Global 100 energy, car rental, retail, pharmaceutical and life science companies.
Source:-http://www.prnewswire.com/news-releases/hale-global-completes-acquisition-of-ql2-software-102163049.html
