KUBC.L Regulatory News (KUBC)

4 Apr 2008 07:00

Kubera Cross-Border Fund Limited04 April 2008 4 April 2008 Kubera Cross-Border Fund Limited Adayana, Inc. acquires VERTEX Solutions On 31 March 2008, Adayana Inc, ("Adayana") a portfolio company of the KuberaCross-Border Fund (LSE/AIM: KUBC), and VERTEX Solutions, a learning-servicesconsulting firm in Falls Church, Virginia, finalised an agreement to merge.VERTEX Solutions has become a wholly owned subsidiary of Adayana. Adayana, a global performance-solutions company based in Minneapolis, Minn.,serves clients in three vertical markets - the Federal government sector throughVERTEX, agriculture, food, life sciences and non-profit sectors through ABG, andthe automotive aftermarket through Adayana Automotive. Adayana's comprehensiveperformance improvement services include blended learning solutions, contentdevelopment, strategic and marketing consulting, technology integration andchannel messaging. In June 2007, KUBC had acquired a significant minority interest in Adayana foran equity investment of US$20 million (including the pro rata investment byaffiliates of Kubera Partners, the Investment Manager of KUBC). The text of the press release from Adayana is provided below. For more information contact: Kubera Partners, LLC (Investment manager of Kubera Cross-Border Fund Limited)Kumar Mahadeva, Managing PartnerTel no: +1 (212) 295 2400 LCF Edmond de Rothschild Securities Limited (Broker)Hiroshi FunakiTel no: +44 (0) 20 7845 5968 Grant Thornton Corporate Finance (Nominated Adviser)Philip Secrett, PartnerTel no: +44 (0) 20 7383 5100 Adayana, Inc. Acquires VERTEX Solutions Expands Base for Global Growth in Government, Commercial and Non-Profit Sectors WASHINGTON, D.C. Adayana, a global performance-solutions company based inMinneapolis, Minn., and VERTEX Solutions, a learning-services consulting firm inFalls Church, Virginia, have finalised an agreement to merge. VERTEX Solutions,an Adayana company, becomes a wholly owned subsidiary of Adayana, Inc. Established in 1996, VERTEX develops innovative learning systems and interactivetechnology for organizational learning and performance enhancement. The companyhas more than 100 employees and currently does business with more than 50agencies of the U.S. government, including the Departments of State, Defense andHomeland Security. "VERTEX has a well-earned, highly respected reputation in the Federal governmentsector," said Mike Jackson, COO, Adayana. "Its vertical-market focus andresults-oriented approach to individual and organizational development is highlycomplementary with Adayana's global strategy." This is the second time in three years that Adayana has successfully merged withand integrated a vertical-market learning-services and performance-improvementcompany. Adayana and Indianapolis-based ABG, Inc., a leading learning andperformance-solutions company in the agriculture, food and life sciencessectors, merged in 2005. "Becoming an Adayana company provides VERTEX with a stronger capital base andgreater opportunity for global growth," said Jeff Kidwell, who remains presidentof VERTEX. "Previous collaboration with Adayana has been extremely beneficialfor our clients and our organization. Joining Adayana presents moreopportunities to expand our services, develop and attract employees andaccelerate our growth." With the VERTEX acquisition, Adayana will have more than 250 employees in 12U.S. locations and India. The company serves clients in three vertical markets -the Federal government sector through VERTEX; agriculture, food, life sciencesand non-profit sectors through ABG, and the automotive aftermarket throughAdayana Automotive. Adayana's comprehensive performance improvement servicesinclude blended learning solutions, content development, strategic and marketingconsulting, technology integration and channel messaging. This information is provided by RNS The company news service from the London Stock Exchange