MOUNTAIN VIEW, Calif., Oct. 27, 2008 (GLOBE NEWSWIRE) -- Pharsight Corporation (Nasdaq:PHST) today announced that its stockholders have approved the previously announced acquisition of Pharsight by Tripos. The parties anticipate that the closing of the acquisition will occur on October 31, 2008. Upon closing, Pharsight will cease trading on the NASDAQ Capital Market, and stockholders will have the right to receive $5.50 in cash for each outstanding share of common stock. Based in St. Louis, Missouri, Tripos is wholly owned by Vector Capital, a San Francisco-based private equity firm specializing in buyouts, spinouts and recapitalizations of established technology businesses.
"We are gratified by the support our stockholders have provided for this transaction," said Shawn O'Connor, President and Chief Executive Officer of Pharsight Corporation. "On behalf of our Board of Directors, I want to thank our stockholders and employees for their support throughout the acquisition process."
About Tripos
Tripos is a global leader in innovative scientific solutions that enable life science researchers to improve the efficiency of their molecular discovery efforts. Established in 1979, Tripos was the first company to bring scientific computational drug discovery capabilities to the pharmaceutical, chemical and food design industries, and today helps a broad range of companies and research facilities accelerate the identification and optimization of new compounds that have the potential to become new products in the drug, food, flavoring and fragrance markets. Headquartered in St. Louis, Missouri, Tripos serves more than 1,000 customers spanning over 46 countries. Tripos is wholly owned by Vector Capital, a San Francisco-based private equity firm specializing in buyouts, spinouts and recapitalizations of established technology businesses.
About Pharsight Corporation
Pharsight Corporation develops and markets integrated products and services that enable pharmaceutical and biotechnology companies to achieve significant and enduring improvements in the development and use of therapeutic products. Pharsight's goal is to help customers reduce the time, cost and risk of drug development, as well as optimize the post-approval marketing and use of pharmaceutical products. Pharsight's approach enhances the fundamental element of drug development success: strong decision-making. By adopting the Pharsight approach, customers acquire a new decision-making process with the potential to systematically improve every level and phase of their business and scientific processes. Pharsight Corporation is headquartered in Mountain View, California. Information about Pharsight is available at www.pharsight.com.
Trademarks
Pharsight is a registered trademark of Pharsight Corporation. All other brand or product names mentioned in this documentation are trademarks or registered trademarks of their respective companies or organizations.