SAN FRANCISCO, June 7, 2012 /PRNewswire/ -- Vector Capital, a leading global technology investment firm, is announcing that Glass, Lewis & Co ("Glass Lewis"), a leading independent proxy voting advisory firm, issued a report on June 5, 2012 which recommends that Technicolor shareholders vote FOR Vector Capital's offer and AGAINST the transaction with JP Morgan Chase & Co. and One Equity Partners (the "JPMorgan Transaction").
Vector Capital's offer is recommended by both Institutional Shareholder Services (ISS) and Glass Lewis, the two leading global proxy advisory firms.
In its independent analysis and review of the two competing proposals, Glass Lewis concluded the following: "We believe there is clear reason for shareholders to support the Vector financing in lieu of the board-approved transaction with JPM. [Vector Capital offers] considerably greater proceeds for the Company to pursue its Amplify 2015 strategic plan. Vector has historically invested in technology firms with significant intellectual property, which would seem to offer no small measure of strategic benefit for Technicolor, a developer and licensor of IP serving the media and entertainment industries."
Alex Slusky, Managing Partner and Chief Investment Officer of Vector Capital said: "The independent recommendations from both Glass Lewis and ISS prove that Vector Capital's offer is decisively superior to the JPMorgan Proposal. These recommendations further strengthen our belief that Vector Capital's offer is in the best interest of Technicolor and its shareholders. We continue to urge all Technicolor shareholders to follow Glass Lewis and ISS' recommendations and vote for proposals A-F and against proposals 8-14."
About Vector Capital
Vector Capital is a leading global private equity firm located in San Francisco specializing in the technology sector. Founded in 1997, Vector Capital manages over $2 billion in equity capital from a variety of investors, including the world's most respected university endowments, foundations, financial institutions, and family offices. Vector Capital has a highly focused investment strategy that emphasizes technology companies with a high degree of intellectual property that are in a state of transformation. Since inception, Vector Capital has made more than 35 investments in public and private companies with an aggregate value of more than $2.5 billion, across sectors including digital media, infrastructure software, and internet services.
SOURCE Vector Capital