Shortly after we posted the initial article pointing to Wafra’s press release on the Freedom Scientific acquisition, it disappeared. Fortunately, we were able to locate the text of the release, which you may read below.
Wafra Partners Announces Acquisition of Freedom Scientific, Inc.
April 25, 2007
April 25, 2007
Wafra Partners LLC and Wafra Investment Advisory Group, Inc.* are pleased to announce the acquisition of Freedom Scientific, Inc.
Freedom Scientific, Inc., based in St. Petersburg, FL, is the leading worldwide provider of assistive technology products for those who are low vision
or blind. Assistive technology products make information, whether in electronic or print format, and computing accessible to those who are low vision or
blind. The Company’s software products include screen reading software, screen magnification software and scanning and reading software. Hardware products
include handheld computers, Braille displays, scanning and reading machines, video magnifiers and Braille printers.
Wafra Partners LLC is a private equity firm focused on middle market companies based in North America that have enterprise values between $20 and $150
million. We are currently seeking acquisitions of companies in consumer products, outsourced business services, niche manufacturing, and consumer-driven
services.
* Wafra Investment Advisory Group, Inc. serves as investment advisor to the investments referred to herein. Wafra Partners LLC seeks companies within the
parameters and sectors set out above.
Freedom Scientific, Inc., based in St. Petersburg, FL, is the leading worldwide provider of assistive technology products for those who are low vision
or blind. Assistive technology products make information, whether in electronic or print format, and computing accessible to those who are low vision or
blind. The Company’s software products include screen reading software, screen magnification software and scanning and reading software. Hardware products
include handheld computers, Braille displays, scanning and reading machines, video magnifiers and Braille printers.
Wafra Partners LLC is a private equity firm focused on middle market companies based in North America that have enterprise values between $20 and $150
million. We are currently seeking acquisitions of companies in consumer products, outsourced business services, niche manufacturing, and consumer-driven
services.
* Wafra Investment Advisory Group, Inc. serves as investment advisor to the investments referred to herein. Wafra Partners LLC seeks companies within the
parameters and sectors set out above.
This company is based in kuwait. I’m not so much concerned about outsourcing our speech software. Hell every manufacturer these days is realizing that no nation can produce all of it’s own goods and services anymore. Yet the Middle East is a dangerous place and what if this group’s main operational center was bombed out of existence?
I’m not so concerned about corporate or national security issues as I am by the fact that Freedom Scientific, an assistive technology company, is now owned by a company who’s technology people do not seem to know anything about web site accessibility. Wafra is headquartered in New York, New York, Freedom Scientific is still headquartered in St. Petersburg, Florida and there are no plans to change this according to Lee Hamilton. I think we need to stay on our toes here, though there’s no reason for panic.