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Fenwick & West Represents RAE Systems in Acquisition by Vector Capital

January 20, 2011

Fenwick & West LLP represented RAE Systems Inc. (NYSE Amex: RAE), a leading global provider of rapidly deployable connected, intelligent gas detection systems that enable real-time safety and security threat detection, in its recently announced merger agreement with affiliates of Vector Capital. An affiliate of Vector will acquire the outstanding shares of RAE common stock for $1.75 per share in cash. A special committee of the RAE Systems Board of Directors, and the disinterested members of the board, have unanimously approved the Vector Agreement and recommend RAE Systems' stockholders approve the transaction.

In addition, RAE Systems also announced that, concurrent with entering into the Vector Agreement, RAE terminated its previously announced merger agreement with affiliates of Battery Ventures under the terms of the Prior Agreement, and paid a termination fee of $3.39 million to affiliates of Battery Ventures.

The Fenwick & West transaction team included corporate attorneys David Michaels, Dennis DeBroeck, Rob Freedman and Ruomu Li; technology transactions attorney Mark Ostrau; securities litigation attorneys Kevin Muck and Dean Kristy; and tax attorney Timothy Fitzgibbon.​