Tripos Shareholders Vote to Sell Discovery Informatics Business and Liquidate Company
ST. LOUIS–(BUSINESS WIRE)–March 15, 2007–Tripos, Inc. (Nasdaq:TRPS), announced that its proposals to sell the assets of its Discovery Informatics business to Vector Capital and to adopt a plan of dissolution and liquidation of the company following completion of that sale were each approved today by the required stockholder vote. Vector Capital is a San Francisco-based private equity boutique specializing in buyouts, spinouts and recapitalizations of established technology businesses.
Closing of the Vector Capital sale is expected to occur early in the week of March 19, 2007.
Liquidation of the company will occur following resolution of all corporate debts and obligations, and will commence approximately six months from now.
About Vector Capital
Vector Capital is a private equity boutique specializing in spinouts, buyouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both the public and private markets. Such opportunities are typically underserved by traditional buyout and venture capital firms. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers and shareholders. Among Vector’s portfolio companies are WatchGuard Technologies, Register.com and Corel Corporation (Nasdaq:CREL). For more information, visit www.vectorcapital.com.
About Tripos, Inc.
Tripos (Nasdaq:TRPS) combines leading-edge technology and innovative science to deliver consistently superior chemistry-research products and services for the biotechnology, pharmaceutical and other life science industries. Within Tripos’ Discovery Informatics (DI) business, the company provides software products and consulting services to develop, manage, analyze and share critical drug discovery information. Within Tripos’ Discovery Research (DR) business, Tripos’ medicinal chemists and research scientists partner directly with clients in their research initiatives, leveraging state-of-the-art information technologies and research facilities. Further information on Tripos can be found at http://www.tripos.com.
Tripos and the Tripos logo are registered trademarks of Tripos, Inc., and/or its affiliates in the United States and certain other countries. All other trademarks mentioned in this document are the property of their respective owners.
