/UCW/ ANDOVER, MA – Omtool™, Ltd. () announced today that it has entered into an agreement to be acquired in an all-cash transaction. The transaction was unanimously approved by the Company’s board of directors, acting on the unanimous recommendation of a committee of independent directors. Completion of the transaction is subject to customary closing conditions, including approval of the Company’s stockholders. The holders of a majority of the outstanding shares of the Company have entered into voting agreements pursuant to which they have agreed to vote their shares to approve the transaction.
Omtool is a trusted partner for document capture, fax and workflow solutions. The company designs and builds software solutions that serve as the foundation for secure document process automation for clients that include some of the world’s largest financial institutions, hundreds of healthcare providers and legal firms, and companies across virtually every industry.
Safe Harbor for Forward-Looking Statements
This press release may contain forward-looking statements, including statements regarding the proposed transaction and other statements about Omtool’s expectations; and the future plans of Omtool’s management. These forward-looking statements are neither promises nor guarantees, and are subject to risk and uncertainties that could cause actual results to differ materially from the expectations set forth in these forward-looking statements, including but not limited to, the occurrence of any event or proceeding that could result in termination of the merger agreement; the inability to complete the merger due to failure of the closing conditions to be satisfied; the outcome of any legal proceedings that may be instituted in connection with the merger; and risks associated with Omtool’s business, including introduction of new product offerings, concentration of all products in the electronic document exchange market, focus on specific vertical markets, and dependence on distribution channels. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. Omtool undertakes no responsibility to update any such forward-looking statements.