RealNetworks LLC today announced the completion of the previously announced acquisition of RealNetworks, Inc. (the “Company”, “RealNetworks” or “Real”) by Company founder Rob Glaser and affiliated companies (the “Merger”). The merger has been approved by the Company’s board of directors, based on the recommendation of a special committee of the board of directors composed solely of independent directors, and by the company’s stockholders. Final shareholder voting results were reported in a recent report on Form 8-K filed with the Securities and Exchange Commission on December 16, 2022.
“Today begins a new chapter at RealNetworks,” said Rob Glaser, “We have named the company that Real is acquiring Greater Heights because Real has great opportunities ahead of us that we will now work hard to unlock. I want to thank the outgoing Real Madrid board for their hard work over the years. More importantly, I would like to thank Real’s many partners and customers and our amazing team. The best is really yet to come.”
Each outstanding common share of the Company has been converted into the right to receive cash consideration of $0.73 per share (the “Merger Consideration”).
The company’s common and preferred stock options will be delisted from the Nasdaq exchange.
Houlihan Lokey acted as independent financial advisor and King & Spalding LLP acted as independent legal advisor to the Special Committee in connection with the transaction. Wilson Sonsini Goodrich & Rosati P.C. acted as legal counsel to the Company.
