ARI Network Services to be acquired by True Wind Capital

ARI Network Services Inc., a Milwaukee-based provider of software tools and marketing services, has entered into a definitive agreement to be acquired by an affiliate of True Wind Capital Management LLC, a San Francisco-based private equity firm focused on investing in technology companies.

Under terms of the agreement, ARI shareholders will receive $7.10 in cash for each share of ARI common stock they own. The deal, valued at $140 million, has been approved by ARI's board of directors.

The ARI brand name, management team, staff and offices will be retained.

"We are very excited to partner with the True Wind team. This transaction is the result of an extensive process, and we believe it represents a great outcome for our shareholders," said Roy Olivier, ARI president and CEO. "The investment by True Wind positions ARI to accelerate our pace of innovation and better positions ARI to capitalize on future growth opportunities."