Today Vision Solutions, Inc. announced that it has completed the acquisition of Double-Take Software, Inc., a leading provider of recovery solutions for the rapidly growing Windows, Linux and Cloud Computing markets. The acquisition significantly expands Vision Solutions’ product offerings and distribution capabilities in the Windows and open systems markets, and strengthens its prominence throughout the information availability marketplace.

“This is an extremely important event for Vision, Double-Take and the clients we serve,” says Vision Solutions’ President and CEO Nicolaas Vlok.

“Independently, each company has been a respected industry leader in its own information availability markets. Together, we are a global leader with the capability to serve companies – whatever the size, location or sector – with a competitive portfolio across major IT platforms. Among the many benefits for customers and partners is the ability to cross-pollinate ideas and technologies across our combined development and services teams.”

Backed by private equity investor Thoma Bravo, Vision’s acquisition of Double-Take Software marks its third strategic transaction in the information and high availability marketplace since November, 2006 when it merged with iTera, Inc. Vision later acquired Lakeview Technology in June, 2007.

“We’re excited to partner with Vision Solutions to create the clear industry leader for the IBM Power Systems, Windows and open systems information availability markets. Adding Double-Take’s class-leading range of solutions to Vision’s family of products will create the broadest and most innovative portfolio of information availability technology globally,”

Nearly doubling in size, the expanding organization now includes one of the world’s largest development, services and customer support centers for information availability software. These resources, including one of the most established global partner networks, provide unprecedented coverage for customers of all sizes and geographies.

“We’re fortunate to be bringing together some of the best minds and intellectual property in the information availability industry,” says Alan Arnold, chief technology officer and executive vice president of Vision Solutions.

“This enables us to consistently bring to market important new enhancements and technologies that address customer needs.”

Vision Solutions’ partners are welcoming the opportunity to expand their businesses with a competitive portfolio of top-tier availability brands for IBM i, AIX, Windows and Linux, and industry analysts have been positive about the growing organization as well.

“The coming together of Vision Solutions and Double-Take Software gives Avnet access to a suite of best-in-class information availability products for major platforms which support our VirtualPath and StoragePath solutions,” said Gavin Miller, vice president of Technology Infrastructure Solutions for Avnet Technology Solutions, Americas.

“This acquisition provides Avnet and its partners with a great opportunity to work with a single vendor and expand our existing relationship.”

“Vision Solutions and Double-Take are expected to see synergies in their combined business, because high availability and data-replication products are increasingly seen as key to disaster recovery—and to planning for it,” said Jean S. Bozman, research vice president of IDC’s Enterprise Platforms Group. “Both types of software are essential ingredients of business continuity, as they allow re-start of applications and access to business data. Importantly, the combined company will also address a broader market than before—with products for scalable servers, as well as for the large deployments of volume x86 servers in today’s virtualized infrastructure.”

“As a Vision Solutions and Double-Take customer, I see this development as a positive,” says Alexander Kazakov, Deputy Head of IT Division, Raiffeisen Bank Russia. “It is an excellent opportunity for the market to receive complete data integrity solutions and services from one trusted vendor.”

Source:http://www.ameinfo.com/238889.html

Today Vision Solutions, Inc. announced that it has completed the acquisition of Double-Take Software, Inc., a leading provider of recovery solutions for the rapidly growing Windows, Linux and Cloud Computing markets. The acquisition significantly expands Vision Solutions’ product offerings and distribution capabilities in the Windows and open systems markets, and strengthens its prominence throughout the information availability marketplace.

“This is an extremely important event for Vision, Double-Take and the clients we serve,” says Vision Solutions’ President and CEO Nicolaas Vlok. “Independently, each company has been a respected industry leader in its own information availability markets. Together, we are a global leader with the capability to serve companies — whatever the size, location or sector — with a competitive portfolio across major IT platforms. Among the many benefits for customers and partners is the ability to cross-pollinate ideas and technologies across our combined development and services teams.”

Backed by private equity investor Thoma Bravo, Vision’s acquisition of Double-Take Software marks its third strategic transaction in the information and high availability marketplace since November, 2006 when it merged with iTera, Inc. Vision later acquired Lakeview Technology in June, 2007.

“We’re excited to partner with Vision Solutions to create the clear industry leader for the IBM Power Systems, Windows and open systems information availability markets. Adding Double-Take’s class-leading range of solutions to Vision’s family of products will create the broadest and most innovative portfolio of information availability technology globally,” says Scott Crabill, managing partner at Thoma Bravo, the private equity company behind Vision Solutions.

Nearly doubling in size, the expanding organization now includes one of the world’s largest development, services and customer support centers for information availability software. These resources, including one of the most established global partner networks, provide unprecedented coverage for customers of all sizes and geographies.

“We’re fortunate to be bringing together some of the best minds and intellectual property in the information availability industry,” says Alan Arnold, chief technology officer and executive vice president of Vision Solutions. “This enables us to consistently bring to market important new enhancements and technologies that address customer needs.”

Vision Solutions’ partners are welcoming the opportunity to expand their businesses with a competitive portfolio of top-tier availability brands for IBM i, AIX, Windows and Linux, and industry analysts have been positive about the growing organization as well. “The coming together of Vision Solutions and Double-Take Software gives Avnet access to a suite of best-in-class information availability products for major platforms which support our VirtualPath(R) and StoragePath(TM) solutions,” said Gavin Miller, vice president of Technology Infrastructure Solutions for Avnet Technology Solutions, Americas. “This acquisition provides Avnet and its partners with a great opportunity to work with a single vendor and expand our existing relationship.”

“Vision Solutions and Double-Take are expected to see synergies in their combined business, because high availability and data-replication products are increasingly seen as key to disaster recovery — and to planning for it,” said Jean S. Bozman, research vice president of IDC’s Enterprise Platforms Group. “Both types of software are essential ingredients of business continuity, as they allow re-start of applications and access to business data. Importantly, the combined company will also address a broader market than before — with products for scalable servers, as well as for the large deployments of volume x86 servers in today’s virtualized infrastructure.”

“As a Vision Solutions and Double-Take customer, I see this development as a positive,” says Alexander Kazakov, Deputy Head of IT Division, Raiffeisen Bank Russia, a division of the international 1.7 billion euro Raiffeisen Zentralbank. “It is an excellent opportunity for the market to receive complete data integrity solutions and services from one trusted vendor.”

Source:http://www.marketwatch.com/story/vision-solutions-acquires-industry-leading-double-take-software-2010-07-26?reflink=MW_news_stmp

Double-Take Software Inc (NASDAQ: DBTK | PowerRating), a provider of recovery solutions, disclosed on Thursday that the proposal to adopt the merger agreement with Vision Solutions Inc, a portfolio company of Thoma Bravo LLC and wholly-owned subsidiary of Vision Solutions, was approved by its stockholders.

Shareholders, as of record date 18 June 2010 for the special meeting, voted affirmative by a majority of 71% of the outstanding Double-Take common shares as required, the company said and added that pursuant to the merger its stockholders will receive USD10.55 in cash for each common share held.

Subject to the satisfaction of certain conditions in the agreement and in the Definitive Proxy Statement filed by the company with the US Securities and Exchange Commission on Wednesday, the merger will close and its common stock stop trading on NASDAQ as of the close of business today (Friday).

Post merger, Double-Take will become a wholly-owned subsidiary of Vision Solutions.

Source:http://www.tradingmarkets.com/news/stock-alert/dbtk_double-take-software-announces-stockholders-approval-for-merger-agreement-with-vision-solutions-inc-1061633.html

Double-Take Software, a provider of recovery solutions, has announced that counsel for it and the other defendants have entered into a memorandum of understanding with counsel to the plaintiffs in the putative stockholder class actions pending in both the Court of Chancery of the State of Delaware and the Superior Court of the Commonwealth of Massachusetts in Worcester County.

The stockholder class actions were filed in connection with the pending acquisition of the company by Vision Solutions, pursuant to the definitive merger agreement entered into on May 17, 2010.

The memorandum of understanding (MoU) provides for the terms of a settlement of the Delaware litigation, which would include the dismissal with prejudice of all claims against all of the defendants and the dismissal of all claims in the lawsuit on behalf of the settlement class.

The counsel for the Massachusetts plaintiffs have agreed to stay the Massachusetts actions pending final approval of the settlement and thereafter to seek dismissal of the Massachusetts actions, provided that the settlement receives final approval. In addition, in connection with the settlement and as provided in the MoU, the parties contemplate that plaintiff’s counsel will seek an award of attorneys’ fees and expenses as part of the settlement.

The proposed settlement is conditional upon, among other things, the execution of an appropriate stipulation of settlement and final approval of the proposed settlement by the court in Delaware.

In connection with entering into the MoU, Double-Take has filed definitive additional proxy materials with the securities and exchange commission to disclose the memorandum of understanding and proposed settlement and to supplement the disclosures in the definitive proxy statement filed by the company in connection with the pending merger.

Source:http://www.tradingmarkets.com/news/stock-alert/dbtk_double-take-enters-into-mou-regarding-stockholder-class-actions-1051822.html

Double-Take Software Inc. said on Friday that it and other defendants have signed a memorandum of understanding to settle shareholder class actions in Delaware and Massachusetts over its planned acquisition by Vision Solutions Inc.

Double-Take Software, which provides software and services to recover and back up data, said it had agreed to make additional disclosures about the acquisition, which was announced in May.

It said the memorandum of understanding includes the terms of a settlement of the Delaware case, including the dismissal of all claims. Lawyers in the Massachusetts case have agreed to stay their action and seek dismissal once the Delaware case is closed. The company said it expects the plaintiff’s attorneys will be awarded fees and expenses as part of the settlement.

The company said it agreed to the settlement “to eliminate the uncertainty, distraction, burden and expense of further litigation” and to make sure its acquisition by Vision Solutions moves forward without the threat of court action.

Double-Take shares fell 4 cents to close at $10.48 on Friday. Vision Solutions is planning to pay $10.55 per share for it.

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