Covington Group of Funds (“Covington”) is pleased to announce that Davis + Henderson Income Fund’s (TSX: DHF.UN) Filogix Segment. (“Filogix”) has entered into a definitive agreement to acquire Covington portfolio holding Cyence International Inc. (“Cyence”/ the “Company”). The acquisition is expected to close at the end of December 2008; subject to the satisfaction of closing conditions. This acquisition also represents the second successful Covington portfolio exit in 2008.
Covington Group of Funds has announced that the Board of Directors of the Fund has approved a proposal to consolidate the pool of assets of Covington Venture Fund Inc. Class A Shares, Series VII (“Series VII Assets”) with the pool of assets of Covington Venture Fund Inc. Series VIII and Series IX (“the “Series VIII and Series IX Assets”).
Covington Capital Corp. (“Covington”) is pleased to announce that the Canadian Venture Capital Association (“CVCA”) has selected Covington Capital Corp. (“Covington”) as the recipient of its 2008 “Deal of the Year” award for its investment in PlateSpin Ltd. (“PlateSpin”/the “Company”).
Five years after its inception, and Covington’s initial investment in the Company, PlateSpin was acquired by Novell, Inc. for USD $205 million. Over those five years, the Company quickly grew to become one of the leaders in workload lifecycle management solutions for the enterprise data center.
Covington Capital Corp. (“Covington”) announced today that it would be returning over $1.2 million dollars to The University of Western Ontario and Queen’s University as a result of their involvement with the UWO Internet Ventures Fund and the PARTEQ Internet Ventures Fund (“PARTEQ”). This represents a substantial return for both Western and Queen’s, and two of the most significant returns achieved under the CSBIF program. Covington is proud to be able to give back to our community sponsors and to support the ongoing growth and development of these leaders in education.
Covington Group of Funds (“Covington”) is pleased to announce that Novell, Inc. (“Novell”) has completed its acquisition of Covington investee PlateSpin Ltd. (the “Company”). The acquisition for USD$205 million (all cash transaction) will see PlateSpin’s customers benefit from the larger resources and global reach provided by the amalgamation of the two entities.