Firsthand Technology Value Fund Holding Hightail Acquired by Open Text Corp.

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SAN JOSE, Calif., Feb. 14, 2018 (GLOBE NEWSWIRE) — Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) (the “Fund”), a publicly traded venture capital fund that invests in technology and cleantech companies, announced today that Hightail, a Fund holding since 2014, has been acquired by OpenText Corp. (NASDAQ:OTEX). 

OpenText is a publicly traded enterprise information management (EIM) technology company with a market capitalization of more than $9 billion. The Fund’s cost basis in Hightail stock is $10 million. We currently anticipate receiving $5 million – $6 million in proceeds from the sale of the company to OpenText. More details will be published as they become available.

About Firsthand Technology Value Fund
Firsthand Technology Value Fund, Inc. is a publicly traded venture capital fund that invests in technology and cleantech companies. More information about the Fund and its holdings can be found online …

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