M*Modal and One Equity Partners Announce Extension of Offer to Acquire M*Modal and Settlement with Putative Class Action Plaintiffs

M*Modal

and One Equity Partners, the private investment arm of JP Morgan Chase

announced Wednesday that in connection with the previously announced merger agreement, Legend Acquisition Sub, Inc. (an affiliate of OEP) has extended the expiration of its tender offer to acquire all of the outstanding shares of common stock of M*Modal for $14.00 per share, net to the seller thereof in cash, without interest thereon and less any applicable withholding taxes, to 11:59 p.m., New York City time, on August 14, 2012, unless further extended in accordance with the terms of the merger agreement. The tender offer was previously scheduled to expire at 11:59 p.m., New York City time, on August 13, 2012. All other terms and conditions of the tender offer remain unchanged. The depositary for the tender offer has indicated that as of the close of business on August 7, 2012, 18,676,844 shares of common stock of M*Modal had been validly tendered and not withdrawn pursuant to the tender offer. On August 8, 2012, M*Modal and OEP also announced that M*Modal, OEP and the other named defendants have today entered into a memorandum of understanding with plaintiffs' counsel in connection with the previously consolidated putative class action lawsuits filed in Delaware state court in connection with the proposed acquisition of M*Modal by affiliates of OEP.