SYSTRAN : SYSTRAN's management and principal shareholders enter into exclusive negotiations with CSLI for the acquisition of 35.79% of SYSTRAN's share capital.
Paris, 19 December 2013
SYSTRAN's management and principal shareholders entered into exclusive
negotiations today with CSLI Co. Ltd, a Korean company, to sell all of their
shares in SYSTRAN, representing approximately 35.79% of the share capital for
a price of â‚¬5 per share.
This amicable industrial partnership, with the support of SYSTRAN's management
and principal shareholders, would enable SYSTRAN to have a privileged access to
Asian markets and in doing so capture new markets, and would allow CSLI to
benefit from SYSTRAN's unique know-how and expertise in developing and selling
machine translation software and natural language processing technologies.
Dimitris Sabatakakis, Guillaume Naigeon, Denis Gachot, Jean Senellart,
Charles-Eric Boscals de RÃ©als, together with Valfinance and SOPI have granted
CSLI an exclusivity to execute this transaction.
In a meeting held today, SYSTRAN's board of directors welcomed such offer and
expressed its support for the proposed transaction, pending the outcome of the
independent expert's report by SORGEM that would be appointed in case of a
positive outcome of the current negotiations.
This transaction would remain subject to standard conditions precedent,
including the prior administrative authorizations, in France and in USA, under
the control of foreign investments.
If the above authorizations are granted, CSLI would acquire 35.79% of the share
capital of SYSTRAN and would then file a tender offer for all of the remaining
shares at the same price of â‚¬5 per share. Such tender offer is expected to take
place during the first semester of 2014 in the current timetable.
The contemplated transaction values the sold block at approximately â‚¬15.7
million and 100% of SYSTRAN at approximately â‚¬37.5 million.
SYSTRAN is the market historic provider of language translation software
products and solutions for the desktop, enterprise and Internet.
Use of SYSTRAN products and solutions enhance multilingual communication and
increase user productivity. SYSTRAN delivers real-time language solutions for
search, content management, online customer support, intra or intercompany
collaboration, and eCommerce.
With the ability to facilitate communication in 52+ language combinations and in
20 vertical domains, SYSTRAN's software is the choice of leading global
corporations, portals and public agencies.
SYSTRAN has been pioneering advances in machine translation for over four
decades. Its latest achievement, SYSTRAN Hybrid MT, combines the predictability
and language consistency of rule-based machine translation with the fluency of
SYSTRAN is headquartered in Paris, France with a North American office located
in San Diego, California, USA.
SYSTRAN (Code ISIN FR0004109197, Bloomberg: SYST NM, Reuters: SYTN.LN) is listed
on EuroNext Paris, Compartiment C.
For more information, visit www.systransoft.com
Established in February 1995, CSLI is a leading provider of language translation
software and services. CSLI has a dominant market position in the Korean
translation market and it offers translation solutions and services, including
document translation and automatic web translation to various corporations,
government agencies and individuals.
CSLI's proven technology and accumulated language resources allow the company to
better serve its customers. Specifically, CSLI's high-quality translation
engines offer a real-time, bidirectional translation for many languages
including Korean, Japanese, Chinese and English.
CSLI is dedicated to developing various language translation solutions to make
the world more connected and it plans to further expand its market presence in
the global language translation market.
CSLI is headquartered in Seoul, Republic of Korea with presence in USA, China,
For more information, please visit www.csli.co.kr
Dimitris SABATAKAKIS, Chairman & CEO
Telephone: +33 (0)1 44 82 49 00Â Â Fax: +33 (0)1 44 82 49 01
The annual and 4(th) quarter 2013 results will be published on 14 February 2014.
This Press Release is available for download at:
 Â Â Â Â Â Â This includes all of their existing shares, representing 35.79% of
the SYSTRAN's share capital, plus the shares to be issued as a result of the
exercise of their stock-options (i.e. a total of 37.88% of SYSTRAN's share
capital on a fully diluted basis).
 Â Â Â Â Â Â Dimitris Sabatakakis is the Chief Executive Officer and President of
the Board of Directors of SYSTRAN.
 Â Â Â Â Â Â Guillaume Naigeon, Denis Gachot, Jean Senellart and Charles-Eric
Boscals de RÃ©als are members of the Board of Directors of SYSTRAN.
 Â Â Â Â Â Â Equity value, excluding treasury shares but taking into account
existing stock-options which are not exercised at date.
SYSTRAN PR 2013 12 19:
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Source: SYSTRAN via GlobeNewswire