Peregrine Systems Completes $250M Takover of Telco Research

On March 30, 2000, San Diego, California-based Peregrine Systems, Inc., a leading provider of infrastructure management software and e-infrastructure solutions, completed its acquisition of Nashville, Tennessee-based Telco Research Corporation Limited, a world leader in voice and data management and which is listed on the TSE. The transaction was structured as a stock-for-stock exchange through a plan of arrangement. As consideration for the merger, Peregrine Systems issued approximately 2.56 million shares in exchange for all of the outstanding equity securities of Telco Research. The total consideration at the time of closing was valued at approximately $250 million.

Representing Peregrine Systems as Canadian counsel was Aird & Berlis with a team that included Jay A. Lefton, Richard Kimel, Michael P. McCloskey (corporate finance) and Barbara J. Worndl (tax). Doug H. Collom of Wilson, Sonsini, Goodrich & Rosati (Palo Alto) acted as US counsel for Peregrine Systems. Representing Telco Research, as Canadian counsel, was Philippe Tardif and Martha Rafuse of Lang Michener. Sherrard & Roe PLC (Nashville) acted as US counsel to Telco Research.