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New Horizons and NWHW Holdings enter merger agreement

NWHW Holdings is to acquire New Horizons.

14 August 2012

Independent IT training firm New Horizons Worldwide and NWHW Holdings have entered a merger agreement, by which New Horizons will be acquired by NWHW.

This transaction could be bolstered by merger and acquisition consultants and will involve NWHW purchasing all of New Horizon's outstanding common shares for $2.17 (£1.38) each, as well as its available Series C preferred shares for $67.27 per share and $52.84 for its Series B stock.

As a result, total enterprise value for the deal is around $56 million, with the price per common share representing a 210 per cent premium over New Horizon's August 13th closing price of 70c.

NWHW is a newly-formed organisation backed by New Horizons shareholder and leading investment firm Camden Partners.

This equity group was founded in 1995 and specialises in expanding companies in technology-enabled corporate services, healthcare and education.

"New Horizons has greatly benefited from the support of Camden Partners since its initial investment in 2005," New Horizons' president and chief executive officer Earle Pratt said.

Posted by Edel Quinn

Source: Joint press release, August 13th

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