Robbins Umeda LLP Announces an Investigation of

Robbins Umeda LLP has commenced an investigation into possible breaches of fiduciary duty and other violations of the law by members of the board of directors of (NASDAQGS: ACOM) in connection with their efforts to sell the company to the private equity firm Permira Advisers LLP.  Concerned shareholders who would like more information about their rights and potential remedies can complete the form below and we will contact you directly. You can also contact attorney Gregory E. Del Gaizo at (800) 350-6003.  

On October 22, 2012, and Permira announced that they had entered into a definitive merger agreement under which will be acquired by Permira.  According to the terms of the deal, Permira will acquire through a cash-for-stock transaction with a total value of approximately $1.6 billion based on’s closing stock price on October 19, 2012.  The $32.00 per share offer price represents a premium of only 9.7% based on’s closing price on October 19, 2012 the last trading day prior to the announcement of the merger. As recently as October 2, 2012, traded over the offer price, trading at $32.50.  Multiple analysts have set price targets higher than the $32.00 offer price with at least one analyst from Piper Jaffray setting a price target for stock at $45.00 per share. The acquisition has already been approved by the board of directors of The transaction is expected to close in early 2013.

Robbins Umeda LLP’s investigation focuses on whether the board of directors at is undertaking a fair process to obtain maximum value and adequately compensate its shareholders, or seeking to benefit themselves.  Notably, following the completion of the merger,’s President and Chief Executive Officer Tim Sullivan and Howard Hochhauser,’s Chief Financial Officer and Chief Operating Officer, will maintain a majority of their equity stakes in the company as part of the transaction. Spectrum Equity Investors V, L.P., which currently owns approximately 30% of’s outstanding shares will remain an investor in the company.  Further, on July 25, 2012, reported second quarter of 2012 results with adjusted earnings per share of $0.50 which beat analyst estimates of $0.472 by 5.93%. The total revenue for second quarter of 2012 was $119.1 million an increase of 18% compared to the earnings in the second quarter of 2011.  Given these financial results, Robbins Umeda LLP is examining the board of directors’ decision to sell now rather than allow shareholders to continue to participate in the company’s continued success and future growth prospects.

Robbins Umeda LLP attorneys highlight that shareholders have the option to file a class action lawsuit against the company to secure the best possible price for the company’s shareholders and the disclosure of material information to shareholders so they can vote on the transaction in an informed manner.

Robbins Umeda LLP is a nationally recognized leader in securities litigation and shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested.

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