Thursday, July 19, 2007

Quovadx Approves Sale to Venture Capital Firm

Quovadx Inc., a producer of software system development applications, announced Wednesday that its stockholders have approved and completed the company's merger with Rogue Wave Holdings Inc., a wholly owned subsidiary of Battery Ventures VII L.P. Under the terms of the merger agreement, Quovadx stockholders will receive $3.20 in cash for each share of Quovadx common stock—the same price at which the stock was listed at market close Wednesday. As a result of the merger, Quovadx will cease to be a publicly traded company, and it will no longer be listed on NASDAQ. Quovadx is headquartered in Greenwood Village, Colorado. Founded in 1983, Battery Ventures focuses its investments in technology companies.