RealNetworks LLC Announces Closing of Acquisition of RealNetworks, Inc. by CEO Rob Glaser

RealNetworks LLC announced the closing of the previously announced acquisition of RealNetworks, (the “Company”, “RealNetworks” or “Real”), by the Company’s founder, Rob Glaser and affiliates (the “merger”). The merger was approved by the Company’s Board of Directors, based on the recommendation of a Special Committee of the Board of Directors consisting exclusively of independent directors, and by the Company’s shareholders. The final shareholder voting results were reported in a Current Report on Form 8-K filed with the Securities and Exchange Commission on December 16, 2022.

Recommended AI: “Bitcoin Has No Intrinsic Value”. Then What Gives Bitcoin Value?

“Today, a new chapter begins at RealNetworks,” said Rob Glaser, “We named the entity that is acquiring Real “Greater Heights” because Real has great opportunities in front of us, which we will now work hard to unlock.  I want to thank Real’s outgoing board for their diligent work over the years.  More importantly I want to thank Real’s many partners and customers, and our outstanding team.  Truly, the best is yet to come.”

Each outstanding share of common stock of the Company has been converted into the right to receive cash consideration of $0.73 per share (the “merger consideration”).

Recommended AI: Top 10 Countries and Cities by Number of CCTV Cameras

The Company’s common stock and preferred share purchase rights will be delisted from the Nasdaq Stock Market.

Houlihan Lokey acted as independent financial advisor and King & Spalding LLP acted as independent legal counsel to the Special Committee in connection with the transaction.  Wilson Sonsini Goodrich & Rosati P. C. acted as legal counsel to the Company.

Recommended AI: How is Artificial Intelligence (AI) Changing the Future of Architecture?

[To share your insights with us, please write to sghosh@martechseries.com]