CORRECTING and REPLACING Printronix Announces Completion of Acquisition by Vector Capital
January 08 2008 - 10:01AM
Business Wire
Date in second graph should read: January 8, 2008 (sted January 8,
2007). The corrected release reads: PRINTRONIX ANNOUNCES COMPLETION
OF ACQUISITION BY VECTOR CAPITAL Printronix, Inc. (Nasdaq: PTNX), a
leading manufacturer of integrated enterprise printing solutions
for the supply chain, today announced the completion of its
acquisition by Pioneer Holding Corp., an entity controlled by
Vector Capital, a San Francisco-based private equity firm. Under
the terms of the $109 million transaction, Printronix stockholders
are entitled to receive $16.00 per share. Printronix common stock
has ceased trading on the Nasdaq Global Market prior to the open of
the market on January 8, 2008, and is no longer listed. As
previously announced, on December 27, 2007, the merger agreement
was adopted at a special meeting of stockholders by the holders of
a majority of Printronix�s outstanding common stock, as required by
Delaware law. Stockholders who hold shares through a bank or broker
will not have to take any action to have their shares converted
into cash, since these conversions will be handled by the bank or
broker. Stockholders who hold certificates can exchange their
certificates for $16.00 per share in cash, without interest,
through the payment agent, BNY Mellon Shareowner Services. BNY
Mellon Shareowner Services will be mailing out instructions to
registered stockholders regarding specific actions they will need
to take to exchange their shares for the cash consideration. About
Printronix Since 1974, Printronix, Inc. has created innovative
printing solutions for the industrial marketplace and supply chain.
The Company is the worldwide market leader in enterprise solutions
for line matrix printing and has earned an outstanding reputation
for its high-performance thermal bar code and fanfold laser
printing solutions. Printronix also has become an established
leader in pioneering technologies, including radio frequency
identification (RFID) printing, bar code compliance and networked
printer management. Printronix is headquartered in Irvine,
California. For Company information, see www.Printronix.com. About
Vector Capital Vector Capital is a leading private equity firm
specializing in buyouts, spinouts and recapitalizations of
established technology businesses. Vector identifies and pursues
these complex investments in both the private and public markets.
Vector actively partners with management teams to devise and
execute new financial and business strategies that materially
improve the competitive standing of these businesses and enhance
their value for employees, customers and shareholders. Among
Vector�s notable investments are Savi Technology, LANDesk Software,
Corel Corporation (Nasdaq: CREL), Register.com, and Watchguard
Technologies. For more information, visit www.vectorcapital.com
Forward-Looking Statements Certain statements in this press
release, including statements about the potential benefits of the
completed acquisition to Printronix stockholders, customers,
partners and employees and other statements about our plans,
objectives, intentions, and expectations are �forward-looking
statements� within the meaning of the Securities Exchange Act of
1934, as amended. There are a number of risks and uncertainties
that could cause actual results to differ materially from the
forward-looking statements included in this document. Additional
factors that may affect the future results of Printronix are set
forth in its filings with the Securities and Exchange Commission,
which are available at www.sec.gov. Unless required by law,
Printronix undertakes no obligation to publicly update or revise
any forward-looking statements, whether as a result of new
information, future events or otherwise.
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