$1.3 billion Intergraph deal is done

Firm goes private after purchase by investment group

Thursday, November 30, 2006

By GINA HANNAH

Times Business Writer gina.hannah@htimes.com

A private investment group completed its acquisition of Huntsville-based Intergraph Corp. Wednesday, the company said.

The investor group, led by Hellman & Friedman LLC and Texas Pacific Group, purchased the software company for $1.3 billion. As a result of the transaction, Intergraph's stock, which has traded on the Nasdaq since the company went public in July 1986 at about $25 per share, was removed from the market.

Under the terms of the sale, Intergraph shareholders will receive $44 cash for each share of common stock owned.

Intergraph management has said the sale will give the company greater freedom to grow its business without the oversight required for publicly traded companies.

"We are pleased with the successful outcome of this transaction, which has provided great value to our public shareholders. We believe the acquisition represents an endorsement of our business transformation efforts and the operational progress we have made over the past several years," Intergraph CEO Halsey Wise said in a news release. "We look forward to working with Hellman & Friedman and Texas Pacific Group in this next chapter of our corporate history."

As a private company, Intergraph "now enters a new phase of growth and opportunity," said David R. Tunnell, managing director of Hellman & Friedman. "We believe Intergraph is a uniquely positioned global software company and has strong franchises with leading industry positions in large and growing markets."

"Intergraph begins its new life as a private company today," said John Marren, senior partner at Texas Pacific Group. "As the new owners of Intergraph, we will work with management to build upon the company's recent operational improvements, history of technology leadership and commitment to customer service and success."

Shareholders will receive instructions soon on how to cash in their stock, the company said.



$1.3 billion Intergraph deal is done Firm goes private after purchase by investment group Thursday, November 30, 2006 By GINA HANNAH Times Business Writer gina.hannah@htimes.com A private investment group completed its acquisition of Huntsville-based Intergraph Corp. Wednesday, the company said. The investor group, led by Hellman & Friedman LLC and Texas Pacific Group, purchased the software company for $1.3 billion. As a result of the transaction, Intergraph's stock, which has traded on the Nasdaq since the company went public in July 1986 at about $25 per share, was removed from the market. Under the terms of the sale, Intergraph shareholders will receive $44 cash for each share of common stock owned. Intergraph management has said the sale will give the company greater freedom to grow its business without the oversight required for publicly traded companies. "We are pleased with the successful outcome of this transaction, which has provided great value to our public shareholders. We believe the acquisition represents an endorsement of our business transformation efforts and the operational progress we have made over the past several years," Intergraph CEO Halsey Wise said in a news release. "We look forward to working with Hellman & Friedman and Texas Pacific Group in this next chapter of our corporate history." As a private company, Intergraph "now enters a new phase of growth and opportunity," said David R. Tunnell, managing director of Hellman & Friedman. "We believe Intergraph is a uniquely positioned global software company and has strong franchises with leading industry positions in large and growing markets." "Intergraph begins its new life as a private company today," said John Marren, senior partner at Texas Pacific Group. "As the new owners of Intergraph, we will work with management to build upon the company's recent operational improvements, history of technology leadership and commitment to customer service and success." Shareholders will receive instructions soon on how to cash in their stock, the company said. © 2006 The Huntsville Times © 2006 al.com All Rights Reserved.