K1 Investment Management, a private equity firm, completed the acquisition of ELMO Software, a software developer, for $319m. “The ELMO Independent Board Committee has carefully considered the proposal and believes the offer price of $4.85 cash per share represents compelling value for ELMO shareholders. Whilst ELMO has achieved considerable success to date in Australia/New Zealand and the United Kingdom, the IBC has balanced this against the macroeconomic and execution risks in achieving future plans and has unanimously concluded that the Scheme is a compelling option which relates attractive value for our shareholders," Barry Lewin, ELMO Chairman.