LeapNet, Inc. (Nasdaq:LEAP) was sold to SPRI, Ltd., a newly-formed entity controlled by the Chairman and Chief Executive Officer and Vice President of Sales of Leapnet. LeapNet, an information technology services firm, combined systems integration expertise with extensive advertising and branding experience to provide electronic business strategy and Internet-based application development and integration services to Fortune 1000 clientele.
"George K. Baum delivered a transaction that the Special Committee could endorse due both to its fair value and favorable structure. Their ability to orchestrate a competitive process in a difficult market environment and navigate complicated deal circumstances - especially with management as a bidder - was executed very professionally and successfully."
Chairman of Special Committee LeapNet, Inc.