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Article: Peerless Systems Completes Auco Acquisition; New Peerless Systems Networking Subsidiary Offers Range of Integrated Networking Solutions to Copier and Printer OEMs.
- Article from:
- Business Wire
- Article date:
- June 11, 1999
CopyrightCOPYRIGHT 1999 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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EL SEGUNDO, Calif.--(BUSINESS WIRE)--June 11, 1999--
Peerless Systems Corporation (Nasdaq:PRLS), a leader in embedded imaging and networking systems, announced that Peerless Systems Corporation stockholders and Auco Inc. shareholders have approved the acquisition of Auco by Peerless Systems and that the transaction closed on June 10, 1999.
Under the terms of the agreement, all outstanding shares of Auco have been exchanged for 2.5 million shares of Peerless Systems common stock. Based on Peerless Systems' closing price on June 10, the combination has a transaction value of $21.25 million in total. The acquisition will be accounted for as a pooling of ...