Maximizer Software Inc.
TSX : MAX

Maximizer Software Inc.

December 11, 2009 16:30 ET

Maximizer Software Inc. Receives Shareholder and Court Approval for Going Private Plan of Arrangement

VANCOUVER, BRITISH COLUMBIA--(Marketwire – Dec. 11, 2009) - Maximizer Software Inc. ("Maximizer" or the "Company") (TSX:MAX) is pleased to announce that it has completed the previously announced going-private transaction pursuant to a plan of arrangement under Section 192 of the Canada Business Corporations Act (the "Arrangement"). Under the Arrangement, MSI Acquisition Corp., a company indirectly owned by the family of Terence Hui, a director and chair of the Board of the Company, will acquire all of the issued and outstanding common shares of the Company not owned by The City Place Trust for $0.12 per share. 

On November 5, 2009, the Company obtained an interim order from the Supreme Court of British Columbia permitting the Company to call an extraordinary general meeting (the "Meeting") of the Company's shareholders and optionholders (collectively "securityholders") to consider, among other things, the Arrangement. The interim order required that the resolution approving the Arrangement be approved by a 66 2/3rds majority of the shares and options held by those securityholders voting on the Arrangement, voting together as a group, by a 66 2/3rds majority of the shares held by those shareholders voting on the Arrangement, and by a majority of the shares held by those shareholders voting on the Arrangement, other than Terence Hui, Adex Enterprises Inc. or The City Place Trust.

The Meeting was held on December 9, 2009. At the Meeting, the Arrangement resolution was approved by 99.24% of the shares and options held by those securityholders voting on the Arrangement, voting together as a group, by 99.21% of the shares held by those shareholders voting on the Arrangement, and by 91.01% of the shares held by those shareholders voting on the Arrangement, other than Terence Hui, Adex Enterprises Inc. or The City Place Trust.

The Supreme Court of British Columbia approved the Arrangement by granting a final order on December 10, 2009. The Articles of Arrangement giving effect to the Arrangement under the Canada Business Corporations Act were filed on December 10, 2009. The common shares of Maximizer will be delisted from the Toronto Stock Exchange in due course.

About Maximizer Software

Maximizer Software is a leading provider of simple, accessible, customer relationship management (CRM) and mobile CRM solutions, providing the best value for small and medium-sized businesses and divisions of large enterprises. As a pioneer in the CRM industry for more than 20 years, Maximizer offers sales, marketing, and customer service staff and managers access to customer information through mobile devices, online or the desktop. Maximizer's solutions enable organizations to accelerate business growth by centralizing information and streamlining processes, while exceeding client expectations. Maximizer Software has sold over one million licenses to more than 120,000 customers, ranging in size from entrepreneurs to multi-national organizations, including: Cathay Pacific, Fisher & Paykel Healthcare, HSBC, Ipsos Canada, Oxford University, Siemens, Société Générale and TD Securities. Maximizer Software is a global business with offices and over 400 business partners throughout the Americas, Europe/Middle East/Africa and Asia Pacific.

This release may contain certain forward-looking statements reflecting Maximizer Software Inc.'s current expectations. Investors are cautioned that all forward-looking statements involve risks and uncertainties, including without limitation, changes in market and competition, technological and competitive developments, and potential downturns in economic conditions generally. Additional information on these and other potential factors that could affect the Company's financial results are detailed in documents filed from time to time with the provincial securities commissions in Canada. All trademarks or registered trademarks stated herein are properties of their respective owners.

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