Camelot Information Systems Inc. (NYSE: CIS) has received a proposal from its chairman to go private in a deal that values the company at $82 million.

Chairman and chief executive Simon Yiming Ma, with president, Heidi Chou, executive vice president Yuhui Wang, have proposed to acquire all of Camelot’s outstanding shares for $1.85 per American depository share.

The deal would be financed through a combination of debt and equity, and the buyers are in discussions with a financial institution that may finance the deal.

Beijing-based Camelot has formed a special committee to review the proposal.

The company provides financial industry information technology in China to the financial services, resources, energy, manufacturing, automobile, technology, telecommunications, media and education sectors.

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