MARKHAM, Ontario and WALTHAM, Massachusetts – January 4, 2006 – Geac Computer Corporation Limited (TSX: GAC and NASDAQ: GEAC) today announced the early termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 in connection with its proposed sale to Golden Gate Capital under the arrangement agreement entered into November 6, 2005 between Geac and certain affiliated entities of Golden Gate. The Hart-Scott-Rodino Antitrust Improvements Act of 1976 prohibits the closing of certain transactions prior to the expiration or termination of any applicable waiting periods. The arrangement has also been approved by the German antitrust and competition law authorities. The completion of the arrangement remains subject to a number of conditions, including, without limitation, shareholder approval, court approval and approval under the Investment Canada Act.
Geac (TSX: GAC, NASDAQ:GEAC) is a global enterprise software company that addresses the needs of the Chief Financial Officer. Geac's best-in-class technology products and services help organizations do more with less in an increasingly competitive environment, amidst growing regulatory pressure, and in response to other business issues confronting the CFO. Further information is available at www.geac.com or through e-mail at email@example.com.
About Golden Gate Capital
Golden Gate Capital (www.goldengatecap.com) is a San Francisco-based private equity investment firm with approximately $2.5 billion of capital under management. Golden Gate Capital is dedicated to partnering with world-class management teams to invest in change-intensive, growth businesses. They target investments in situations where there is a demonstrable opportunity to significantly enhance a company's value. The principals of Golden Gate Capital have a long and successful history of investing with management partners across a wide rage of industries and transaction types, including leveraged buyouts, recapitalizations, corporate divestitures and spin-offs, build-ups and venture stage investing.