Sequoia Voting Systems Sells to Private Investors
| NAVIGATE HOME| SITE MAP |
10 November 2007:
Electronic voting manufacturer Sequoia Voting Systems was sold to private investors this week -- one full year ahead of the 2008 presidential election. Sequoia Voting, which supplies technology to jurisdictions across 17 states and supplied the problematic punch card paper voting cards to Florida in the 2000 presidential election, reported the private sales deal was lead by its current executive team.
Jack Blaine, Sequoia Voting president and CEO, said, “I am very excited and hopeful about the tremendous possibilities and numerous opportunities that lay ahead for Sequoia given the company’s new structure and the completion of this sale process.”
The investors, led by Blaine and company CFO Peter McManemy, purchased Sequoia Voting from Smartmatic Corporation for an undisclosed sum.
Smartmatic announced its intention to sell in December 2006 following reports the company had ties to Venezuela's government and was facing an investigation by CFIUS (Committee on Foreign Investment in the United States.)
Congresswoman Carolyn Maloney (D-NY) charged Smartmatic with posing a threat to voting integrity.
“I am relieved by the news of this sale -– it was a long time coming,” Maloney said. “The integrity of our voting machines and elections is vital to national security. Given all of the past uncertainty and anxiety surrounding electronic voting, it’s nice that voters will have this added reassurance."
Given Sequoia Voting’s position in the electoral marketplace, and significant opportunities for capturing majority share, many buyers had approached the company Blaine said, but in the end it was best to handle the transaction with private investors.
“This is a great opportunity for Sequoia’s customers, suppliers and employees,” said Blaine. “This management team knows the elections industry inside and out and is not deterred by the challenges and changes inherent to this dynamic industry. In fact, we are motivated and excited by these challenges and changes.”
Sequoia Voting has offices in Denver, CO, Jamestown, NY, and Oakland, CA.
---This content is copyrighted by Think &
Ask, reproduction of any kind is not permitted without written