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Camelot Information enters into merger agreement for 'going private' transaction

Camelot Information Systems announced that it has entered into a definitive Agreement and Plan of Merger with Camelot Employee Scheme and Camelot Employee SubMerger Scheme, a limited liability company incorporated under the laws of the BVI and a wholly owned subsidiary of Parent, pursuant to which Parent will acquire the company for 51.25c per ordinary share of the company $2.05 per American Depositary Shares, each representing four Shares. This represents a 36.7% premium over the closing price of $1.50 per ADS as quoted by the New York Stock Exchange on March 11, the last trading day prior to the Company's announcement on March 12, 2013 that it had received a "going private" proposal, and a 41.3% premium over the volume-weighted average closing price of the Company's ADSs during the 30 trading days prior to March 12. The consideration to be paid to holders of Shares and ADSs implies an equity value for the Company of approximately $98.2M, on a fully diluted basis.