Page ContentSylogist Ltd. completes C$12 million acquisition of various entities from Serenic CorporationDate Closed: 7/23/2014Value: C$12 millionOn July 23, 2014, Sylogist Ltd. (Sylogist) acquired all the outstanding shares of Serenic Canada Inc., Serenic Software, Inc. and Serenic Software (EMEA) Limited (collectively the SOCs), each a wholly-owned subsidiary of Serenic Corporation (Serenic). The SOCs conduct virtually all of Serenic's business, which includes Serenic's existing proprietary enterprise application software, all existing customer relationships, customer contracts, Microsoft and other third party agreements as well as its tax pools. Serenic operates from principal offices located in Lakewood (Denver), Colorado and Edmonton, Alberta with dealer representation worldwide. For 100% of the shares of the SOCs, Sylogist paid approximately C$8.1 million cash consideration and assumed net working capital assets of approximately C$0.5 million along with deferred revenue liabilities of approximately $4.2 million, subject to post-closing adjustments. Sylogist has acquired all rights to the Serenic brand. BLG represented Sylogist with a team led by Steven Pearson that included Jon Poirier, LuAnne Morrow and Peter Newman.