PR: Accelio shareholders approve Adobe acquisition offer
Expected to close on or about April 12
9 April 2002
OTTAWA, ON -- Accelio Corporation (NASDAQ: ACLO, TSE: LIO), a leading global provider of Web-enabled business process solutions, today announced that shareholders have approved the plan of arrangement, pursuant to which Adobe Systems Incorporated (NASDAQ: ADBE), the leader in network publishing, will acquire Accelio through the acquisition of certain of Accelio assets and all Accelio outstanding equity securities in exchange for common stock of Adobe valued at U.S.$72 million.
Approximately 98% of the votes cast at the special shareholder meeting held in Ottawa, Ontario (Canada) supported the transaction.
"Shareholders have recognized the potential of the technology and go-to- market synergies that link the two companies," said A. Kevin Francis, president and chief executive officer of Accelio Corporation. "The new organization promises to nurture world-class employees, a continuing focus on customer satisfaction and a dedication to the creation of shareholder value."
The transaction is expected to close on or about April 12, 2002. Following the closing, Accelio will become wholly-owned by Adobe and Accelio shares will be delisted from The Toronto Stock Exchange and the Nasdaq National Market.
About Accelio: Accelio Corporation (formerly JetForm Corporation) is a leading global provider of Web-enabled business process solutions. Accelio helps organizations to gain sustainable advantage by extending and accelerating their core business processes. The Accelio family of integrated software solutions empower organizations to capture, integrate and present strategically relevant information for employees, partners and customers - enabling them to work smarter and more productively.
With fiscal 2001 revenues of over $100 million, and in business since 1982, the Accelio global distribution network spans every continent, with more than 8.5 million users worldwide. Accelio customers are Global 2000 organizations in the financial services, banking, manufacturing, utilities and public sectors.
Accelio is a registered trademark of Accelio Corporation. Other product and company names herein may be trademarks or registered trademarks of their respective owners.