MARKHAM, ONTARIO and WALTHAM, MA, January 19, 2006 - Geac Computer Corporation Limited (TSX: GAC and NASDAQ: GEAC) today announced that its shareholders approved the acquisition of the outstanding common shares of the Company by Golden Gate Capital at its Special Meeting of Shareholders held this morning. Shareholders representing more than fifty percent of all shares outstanding, and approximately ninety-eight percent of all votes cast, voted in favor of the arrangement transaction involving Geac and Golden Gate (the "Arrangement"). The Company did not receive notice from any dissenting shareholders under Section 190 of the Canada Business Corporations Act. Under the terms of the Arrangement, Geac shareholders will receive US$11.10 in cash for each common share of Geac.
The Arrangement has been approved by the Ministry of Industry of Canada as required under the Investment Canada Act, and the Company expects to seek final court approval of the Arrangement on January 30th. The transaction is expected to close on or before March 16, 2006.
Geac is a leading global provider of software and services for businesses and governmental bodies providing customers with financial and operational technology solutions to optimize their financial value chain. Further information is available at www.geac.com or through email at firstname.lastname@example.org.