Vancouver's Maximizer Software Inc. (TSX:MAX) has completed a going-private transaction led by the family of company chair Terrence Hui.
The deal, announced in October, involved a company indirectly owned by Hui's family acquiring all of Maximizer's shares for $0.12 per share.
The deal was approved by shareholders on Wednesday and given court approval Thursday.
Maximizer has had a difficult year in 2009, with nine-month revenue falling 30% for the period ending August 31, 2009 to US$9.1 million from US$13 million. The bulk of the revenue decline was due to a 31% drop in revenue of its Maximizer CRM software because of recession-related sales declines.
The company's net loss for the period rose to $1.3 million from $1.1 million. But the loss was muted by a 28% decline in administrative, selling and marketing costs. Research and development costs also fell 22.5% in the past nine months.
Maximizer's share price range during the past week: between $0.11 and $0.115; 52-week high: $0.12; 52-week low: $0.01.