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Stock Market & Financial Investment News

News Breaks
January 16, 2014
09:00 EDTTXTRTextura rises 6.9%
Textura is up 6.9%, or $2.10, to $32.50
News For TXTR From The Last 14 Days
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May 29, 2015
16:52 EDTTXTRNorthwater sends Textura board letter urging to explore sale
On May 29, Northwater, on behalf of the Reporting Persons who collectively are the Company’s largest shareholders, sent to the Textura board of directors a letter advocating for the Board to explore a strategic sale of the company. The letter states Northwater’s belief that the Company has become an outstanding platform technology with proprietary technology, network effects, economies of scale and branding and expresses Northwater’s support for David Habiger, the Company’s interim CEO, as the Company’s permanent CEO. The letter also states that despite Northwater’s confidence in the Company’s leadership and growth story, the risks associated with being a second tier systems player in a market dominated by giants and the risk of being concentrated in one industry will mean the Company will not receive the valuation Northwater believes to be appropriate for a firm of this quality. Accordingly, the letter states Northwater’s belief that the Board should explore strategic alternatives, including the sale of the Company.

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