Stockholders Approve Acquisition by Thoma Bravo; Discontinuing Coverage

QAD (QADA) announced that its stockholders approved its agreement to be acquired by Thoma Bravo for $87.50 per share in cash. The acquisition is expected to close in short order and shares of QAD will be de-listed. As such, we are discontinuing coverage of QAD. Our final price target was $87.50, matching the sale price to Thoma Bravo.

Our report with model and disclosures is available here.