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SLI Systems to quit NZX following ESW takeover

The new owner of software developer SLI Systems will delist the company from the New Zealand stock exchange this week, after a five year stint.

Texas-based ESW Holdings bought a controlling stake in SLI, paying shareholders of the Christchurch-based e-commerce company 65 cents per share - more than double the traded price before the offer.

The takeover valued SLI at over $40 million.

After initally securing 51 percent of the company held by 18 shareholders, ESW locked in a full takover offer for 95.6 percent of the company last month.

ESW is a private investment fund, which invests in software businesses. It owns more than 60 such companies, buying 17 last year.

SLI Systems will trade for a final day on Tuesday, and will leave the NZX on Thursday after five and a half years.

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