December 9, 2016 / 2:00 PM / a year ago

BRIEF-Redknee Solutions announces US$80 mln private placement

Dec 9 (Reuters) - Redknee Solutions Inc :

* Redknee Solutions Inc - net proceeds of transaction will also be used to fund previously announced restructuring costs

* Redknee Solutions Inc - entered into an agreement with a subsidiary of Constellation Software Inc providing for an investment of US$80 million in Redknee

* Redknee Solutions- net proceeds of transaction to be used to repay indebtedness of about US$53 million under company’s senior secured credit facility

* Redknee Solutions- pursuant to constellation agreement, Constellation’s unit will be entitled to elect number of directors to be a majority of board

* Redknee Solutions Inc announces US$80 million private placement Source text for Eikon: Further company coverage:

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