Captaris Announces Evaluation of Strategic Alternatives
March 17 2008 - 2:00AM
PR Newswire (US)
BELLEVUE, Wash., March 17 /PRNewswire-FirstCall/ -- Captaris, Inc.
(NASDAQ:CAPA), a leading provider of software products that
automate document-centric business processes, today announced that
its Board of Directors has decided to evaluate strategic
alternatives to further enhance shareholder value. To oversee and
expedite this process, the Board has established a special
committee comprised of Bruce L. Crockett, Daniel R. Lyle, Thomas M.
Murnane, and Patrick J. Swanick, all independent directors of
Captaris. Bruce L. Crockett, Chairman of the Board, stated, "We
have received unsolicited inquiries from multiple parties who have
expressed an interest in a potential transaction with Captaris. We
plan to conduct a fair, orderly and broad-based process. This
process will commence immediately and we expect to conclude it as
expeditiously as possible. Our Board of Directors is committed to
conducting a thorough evaluation of alternatives to enhance value
for all Captaris shareholders." David P. Anastasi, President and
CEO of Captaris added "While the Board conducts this process, we
will continue to execute our strategy. In the last year we have
made great progress by significantly increasing our scale, products
and market reach toward our goal of transforming Captaris from a
fax server company into a leader in intelligent document capture,
distribution and process management solutions." There can be no
assurance that the evaluation of strategic alternatives will result
in any agreements or transactions. The company does not intend to
disclose developments with respect to the evaluation of strategic
alternatives unless and until its Board of Directors deems it
appropriate. The company has retained RBC Capital Markets as its
financial advisor; Perkins Coie LLP and Simpson Thacher &
Bartlett LLP are acting as the company's and the Board's legal
advisors. About Captaris, Inc. Captaris, Inc. is a leading provider
of software products that automate document centric business
processes. Captaris specializes in document capture, recognition,
routing, workflow, and delivery. Captaris integrated solutions
provide interoperability with leading line of business applications
and technology platforms. Captaris products include RightFax,
Captaris Workflow, Alchemy, FaxPress, DOKuStar, RecoStar, Single
Click Entry, and ID-Star which are distributed through a global
network of leading technology partners. Captaris customers include
the entire Fortune 100 and the majority of Global 2000 companies.
Headquartered in Bellevue, Washington, Captaris was founded in 1982
and is publicly traded on NASDAQ Global Market under the symbol
CAPA. http://www.captaris.com/. The following are registered
trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax,
FaxPress and Captaris Workflow. RecoStar, DOKuStar, ID-Star and
Single Click Entry are trademarks of Captaris Document Technologies
GmbH. All other brand names and trademarks are the property of
their respective owners. DATASOURCE: Captaris, Inc. CONTACT:
Investors, Peter Papano, Captaris, Inc., +1-425-638-4200, ; or Todd
Kehrli, MKR Group, Inc., +1-323-468-2300, ; or Tim Lynch, Joele
Frank, Wilkinson Brimmer Katcher, +1-212-355-4449, Web site:
http://www.captaris.com/
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