According to BusinessWire, Henry Schein Inc, Melville, NY, has made a formal offer to acquire Software of Excellence International Ltd (SOE) for NZ$2.70 per share. Including the payment of a NZ$.03 per share dividend by SOE to shareholders, the total consideration represents a 27% premium based on the closing price of SOE shares on April 27, 2007, the last trading day prior to when Software of Excellence made public the disclosure of a potential acquisition. Excluding transaction costs, the total purchase price of NZ$77.2 million (approximately $58.0 million), would be paid in cash. If completed, Henry Schein expects the transaction to be neutral to 2007 earnings and slightly accretive to 2008 earnings.

SOE has been delivering innovative clinical and practice-management solutions to dental professionals since 1988, and now serves a customer base of more than 5,000 practices in the United Kingdom, Ireland, Australia and New Zealand. SOE is a leading supplier of practice-management systems to both private and public health dentists in the United Kingdom, and is also the largest supplier of dental software in Australia and New Zealand.

“We are very happy that the Independent Directors of Software of Excellence are recommending their security holders accept our offer,” said Stanley M. Bergman, chairman and CEO of Henry Schein. “By acquiring Software of Excellence we will be able to offer our dental customers another productivity tool, allowing them to focus more of their time delivering quality care to their patients.”

Henry Schein’s offer will remain open until August 17, 2007, and is subject to the receipt of acceptances sufficient to provide Henry Schein with 90% or more of the voting rights in SOE.

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