NEW YORK, June 11, 2008 (PRIME NEWSWIRE) -- Levi & Korsinsky, LLP today announced that it has commenced an investigation into the proposed acquisition of CAM Commerce Solutions, Inc. ("CAM Commerce" or the "Company") (Nasdaq:CADA).
CAM Commerce announced that it agreed to be acquired by Great Hill Partners, a private equity investment firm, for only $40.50 a share, or $180 million. Cam Commerce shares closed at $37.54 the day before the announcement of the proposed transaction, so the deal price reflects a 7.9% premium over the prior day's closing price, but approximately a 10% discount to the 52 week closing high for the stock of $45.25 per share. Cam's board of directors has approved the deal, which is subject to conditions including antitrust clearance and a vote of the Company's shareholders. The proposed transaction is expected to close in the fourth quarter of CAM Commerce's fiscal year ending September 30, 2008. Upon closing, CAM Commerce will no longer be publicly traded and the surviving corporation in the merger will be privately owned by an affiliate of Great Hill Partners.
Levi & Korsinsky, LLP is analyzing the fairness of this acquisition from the perspective of the public shareholders of CAM Commerce. If you purchased CAM Commerce's stock prior to June 10, 2008 and still hold those shares, you may have legal rights to challenge some or all aspects of the proposed transaction.
If you would like further information concerning this matter, or if you have any information regarding the proposed transaction, please contact Eduard Korsinsky, Esq. or Juan E. Monteverde, Esq. of Levi & Korsinsky, LLP at 212-363-7500 or via e-mail at ek@zlk.com or jmonteverde@zlk.com.
Levi & Korsinsky, LLP has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud. Levi & Korsinsky, LLP represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.
About CAM Commerce
CAM Commerce designs, develops, markets, installs and services highly integrated retailing and payment processing solutions for small to medium size traditional and eCommerce businesses based on the company's open architecture software. These integrated solutions include credit and debit card processing, inventory management, point of sale, accounting, Internet sales, gift card and customer loyalty programs, and extensive management reporting.