Captaris Completes Acquisition of Castelle
July 11 2007 - 6:00AM
Business Wire
Captaris, Inc. (NASDAQ:CAPA), a leading provider of software
products that automate document-centric business processes today
announced the completion of its acquisition of Castelle
(NASDAQ:CSTL). Under the terms of the definitive agreement
announced on April 26, 2007, and following approval of the
transaction by Castelle's shareholders on July 10, 2007, Captaris
acquired all of Castelle's outstanding shares for a purchase price
of $4.14 per share. In addition, each outstanding in-the-money
option to purchase shares of Castelle was converted into the right
to receive the excess, if any, of the per share purchase price
($4.14) over the per share exercise price of the option. The
aggregate purchase price to be paid by Captaris is approximately
$10.8 million, net of Castelle's cash balance at closing of
approximately $8.5 million. About Captaris, Inc. Captaris, Inc. is
a leading provider of software products that automate business
processes, manage documents electronically and provide efficient
information delivery. Our product suite of Captaris RightFax,
Captaris Workflow and Captaris Alchemy Document Management is
distributed through a global network of leading technology
partners. We have customers in financial services, healthcare,
government and many other industries, and our products are
installed in all of the Fortune 100 and many Global 2000 companies.
Headquartered in Bellevue, Washington, Captaris was founded in 1982
and is publicly traded on the NASDAQ Global Market under the symbol
CAPA. For more information please visit www.captaris.com. About
Castelle Castelle is a market leader in �all-in-one� network fax
solutions for businesses and enterprises, and offers organizations
every possible network fax option: desktop faxing, production
faxing, fax and email integration, workflow application
integration, and tools for developing custom fax applications.
FaxPress, FaxPress Premier and FaxPress Enterprise network fax
servers include the FaxPress or FaxPress Plus software suite that
enables administrators and users to perform functions such as
managing fax queues, creating reports, and viewing fax archives.
Castelle products are designed to be easy to use and maintain, and
provide an economical way for companies to share resources over the
network. Castelle was founded in 1987 and is headquartered in
Morgan Hill, California. Its products are available through a
worldwide network of distributors, resellers, and online retailers.
For more information please visit www.castelle.com. The following
are registered trademarks and trademarks of Captaris: Captaris,
Alchemy, RightFax, Captaris Document Management and Captaris
Workflow. FaxPress�, FaxPress Premier�, FaxPress Enterprise� and
FaxPress Plus� are trademarks of Castelle. All other brand names
and trademarks are the property of their respective owners.