DILIGENT TO BE ACQUIRED BY INSIGHT VENTURE PARTNERS FOR $US 4.90 PER SHARE IN CASH

Transaction Values Diligent at $US 624 Million
 
Purchase Price Represents 31% Premium to Company’s Pre-Announcement Stock Price
 
WELLINGTON, New Zealand & NEW YORK, Feb 15 (Bernama-BUSINESS WIRE)-- Diligent Corporation (NZX:DIL) (“Diligent” or the “Company”), the leading provider of secure online collaboration and document sharing solutions for boards, committees and leadership teams, today announced it has entered into a definitive agreement to be acquired by Insight Venture Partners (“Insight”), a leading global venture capital and private equity firm investing in high-growth software, internet and data services companies. Under the terms of the agreement, Diligent stockholders will receive $US 4.90 ($NZ 7.39¹) in cash for each share of Diligent stock, a consideration which values Diligent at approximately $US 624 Million (approximately $NZ 941 Million¹), including cash. The Diligent Board of Directors has unanimously approved the transaction and resolved to recommend that stockholders vote in favor of the agreement. The transaction represents a 31% premium over the closing share price of $NZ 5.64 ($US 3.74¹) on February 12, 2016.

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