Montréal, QC – March 14, 2012 – iPerceptions Inc. (iPerceptions or theCorporation) (TSX-V: IPE) today announced that its shareholders have approved the amalgamation of iPerceptions with a wholly-owned indirect subsidiary of XPND Fund L.P. (XPND) as per the terms of an agreement entered into by iPerceptions with certain affiliates of XPND pursuant to which XPND agreed to acquire all outstanding shares of iPerceptions at $0.08 per share in cash, except for certain shares held by the Rollover Shareholders, in order to privatize iPerceptions.
The transaction was approved by over 99% of the votes cast by holders of common shares of iPerceptions at the special meeting of Shareholders in Montreal today.
The new entity resulting from the privatization will pursue the Corporation’s current activities. Following the privatization, the new iPerceptions will continue to be headquartered in Montréal and to do business under the name “iPerceptions”. The Corporation will continue to pursue its online Voice of Customer analytics activities for its numerous clients. No significant changes in strategic direction, management or operations are expected as a result of the privatization. The closing of the privatization is expected to be completed on or around March 16, 2012 and the shares of iPerceptions, other than those held by Telesystem Ltd., Jerry Tarasofsky, Capability Snapshot Inc., The Elaine Tarasofsky Family Trust, Stephen James Berns, The Stephen James Berns Trust, Daniel Taras, Robert Duff Anderson, FIER ID, s.e.c. and FIER SUCCÈS, s.e.c. (collectively, the Rollover Shareholders), will be exchanged for redeemable shares of the company resulting from the amalgamation for a consideration of $0.08 per share.
“We look forward to our new partnership with iPerceptions and are very excited about what we can achieve together” said Alexandre Taillefer, Managing Director of XPND.
Forward-looking statements contained in this press release involve known and unknown risks, uncertainties and other factors that may cause actual results, performance and achievements of iPerceptions Inc. to be materially different from any future results, performance or achievement expressed or implied by the said forward-looking statements.
iPerceptions is the leader in online Voice of Customer (VoC) analytics, using sophisticated intercept survey techniques to gather feedback from representative samples of actual website visitors. Its 4Q Suite and webValidator Continuous Listening solutions turn millions of data points into easy-to-understand strategic and tactical decision support for clients around the world. Augmenting its unique ability of giving website traffic a voice is iPerceptions’ advanced integration technology, allowing clients to combine individual visitor feedback with session-level data provided by multiple best-of-breed web analytics solutions for enhanced analysis and understanding. For more information, please visit www.iperceptions.com.
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Audry Larocque – President and Chief Executive Officer, 514-488-3600
XPND Fund L.P.
Alexandre Taillefer – Managing Director, 514-316-7741