Tech giant HP to acquire Pender-backed Teradici

HP has agreed to acquire Teradici Corp, a Burnaby, British Columbia-based provider of remote computing software solutions. No financial terms were released for the deal, which is expected to close in the fourth quarter. The announcement was made by Pender Growth Fund and Pender Private Investments. Teradici is backed by PPI.

PRESS RELEASE

Pender Growth Fund and Pender Private Investments Announce Potential Acquisition of a Portfolio Company

VANCOUVER, British Columbia, July 27, 2021 (GLOBE NEWSWIRE) — (TSXV: PTF) Pender Growth Fund Inc. (“Pender” or the “Company”) and Pender Private Investments Inc. (“PPI”) are pleased to report that one of PPI’s portfolio companies, Teradici Corporation (“Teradici”), has entered into a definitive agreement to be acquired by HP Inc. (the “Proposed Acquisition”).

Teradici is a global innovator in remote computing software that enables users to securely access high-performance computing from any PC, Chromebook, or tablet. The investment in Teradici is held by PPI, which is a portfolio of technology companies acquired by Pender through the acquisition of another venture capital fund in May 2021. The investment in Teradici represents over 50% of the net assets of PPI. Under the terms of the acquisition of PPI, former shareholders of PPI may receive an additional payment from Pender depending on the timing of the completion of the Proposed Acquisition. Further information will be provided at the time of the expected closing of the Proposed Acquisition.

The Proposed Acquisition is expected to close in calendar Q4 2021, pending regulatory review and other customary closing conditions.

A joint news release by Teradici and HP Inc. announcing the Proposed Acquisition is available at the following link:

https://investor.hp.com/news/press-release-details/2021/HP-Inc.-to-Acquire-Teradici/default.aspx

About Pender Growth Fund
The Company’s objective is to achieve long-term capital appreciation for its investors. The Company utilizes its small capital base and long-term horizon to invest in unique situations; primarily small cap, special situations, and illiquid public and private companies. The Company trades on the TSX Venture Exchange under the symbol “PTF”.

Please visit www.pendergrowthfund.com.

About Pender Private Investments
Pender Private Investments is a portfolio of technology companies acquired by Pender through the acquisition of another venture capital fund.

For further information, please contact:

Tony Rautava
PenderFund Capital Management Ltd.
(604) 653-9625
Toll Free: (866) 377-4743