Freedom Scientific Acquired

Blind Access Journal reported that Wafra Investment Advisory Group acquired Freedom Scientific. They have been hearing rumors for quite some time about the impending acquisition of Freedom Scientific. In the past week, we have been hearing that Freedom Scientific would be acquired by Wafra Investment Advisory Group, Inc.

Freedom Scientific is know for products like: PAC Mate, OPAL, TOPAZ, SARA, JAWS, MAGic and OpenBook and it turns out these rumors are true according to this press release directly from Wafra (press release below). There is one question that comes to mind right now. How can a company that appears to have no clue about web site accessibility purchase a company that works to make accessibility a reality for the blind and visually impaired? What changes in direction will Freedom Scientific take after this acquisition?

– Original Press Release according to Blind Access Press –

Wafra Partners Announces Acquisition of Freedom Scientific, Inc.
April 25, 2007

Wafra Partners LLC and Wafra Investment Advisory Group, Inc.* are pleased to announce the acquisition of Freedom Scientific, Inc.
 
Freedom Scientific, Inc., based in St. Petersburg, FL, is the leading worldwide provider of assistive technology products for those who are low vision or blind. Assistive technology products make information, whether in electronic or print format, and computing accessible to those who are low vision or blind. The Company’s software products include screen reading software, screen magnification software and scanning and reading software. Hardware products include handheld computers, Braille displays, scanning and reading machines, video magnifiers and Braille printers.

Wafra Partners LLC is a private equity firm focused on middle market companies based in North America that have enterprise values between $20 and $150 million. We are currently seeking acquisitions of companies in consumer products, outsourced business services, niche manufacturing, and consumer-driven services.

* Wafra Investment Advisory Group, Inc. serves as investment advisor to the investments referred to herein. Wafra Partners LLC seeks companies within the parameters and sectors set out above.

Sources: Blind Access Journal