LONDON, Feb. 25, 2003 (PRIMEZONE) -- Navora Limited, in association with Navora Capital, LLC ("Navora") notes the recent announcement by Maia Holdings Limited, a company backed by the Hg Capital Funds and Rolfe & Nolan management, of its offer to acquire the entire issued and to be issued ordinary share capital of Rolfe & Nolan PLC ("Rolfe & Nolan") at a price of 100 pence per share.
Navora is in discussions with Battery Ventures VI, LP ("Battery Ventures") regarding a possible bid for Rolfe and Nolan. Should a formal offer be made following additional due diligence, Battery Ventures has preliminarily agreed to co-sponsor Navora's bid.
A further announcement will be made in due course.
About Navora
Navora is a privately held investment firm focused on acquiring and managing European technology businesses. Navora chairman Douglas G. Bergeron and the management team bring strategic and operational experience to their investments. Backed by the capital and expertise of DGB Investments Inc., Navora's investment strategy is to acquire established businesses ranging from $3 million to $300 million in revenues and to encourage their growth and development in an entrepreneurial and rewarding environment.
Key principals in Navora previously held senior executive positions managing derivatives processing technologies at SunGard Data Systems, Inc. (NYSE:SDS).
For more information, visit www.navora.com
About Battery Ventures
Battery Ventures is a leading venture capital firm focused on technology investments across all stages of growth. With a team of more than 40 professionals and nearly two decades of success, Battery has the people, experience and capital to guide emerging technology companies to category dominance. Since 1983, the firm has invested worldwide in more than 160 companies across the communications, software and Internet/e-Business industries. From its offices in Wellesley, MA, and San Mateo, CA, the partnership manages over $1.8 billion in committed capital.
Battery Ventures was a major investor in the London International Financial Futures Exchange (LIFFE).
For more information, visit www.battery.com
This announcement is not being made directly or indirectly, in or into Canada, Australia or Japan. Accordingly, neither copies of this announcement nor any related documentation are to be mailed or otherwise distributed or sent in or into Canada, Australia or Japan. Persons who are resident in the United Kingdom should inform themselves about and observe any applicable requirements.
This information is provided by RNS, the company news service from the London Stock Exchange.