Vista Affiliate's $250M Buy Of CDC Software Gets Nod

Law360, New York (March 20, 2012, 10:15 PM EDT) -- A Georgia bankruptcy judge on Tuesday approved CDC Corp.'s sale of its 87 percent stake in CDC Software Inc. to Vista Equity Partners affiliate Archipelago Holdings Inc. for nearly $250 million.

In an order giving CDC the go-ahead, U.S. Bankruptcy Judge Paul W. Bonapfel determined the $10.50-a-share sale to Archipelago was fair and reasonable, and acknowledged the necessity for the sale to be closed as soon as possible.

“Notwithstanding any requirement for approval or consent by any person, the transfer of the CDC Software shares to...
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