Espial Group Inc. (“Espial” or the “Company”) (TSX: ESP)
today announces that the Ontario Superior Court of Justice (Commercial
List) has issued a final order approving the previously announced Plan
of Arrangement under the Canada Business Corporations Act
pursuant to which Enghouse Systems Inc. will acquire all of the issued
and outstanding common shares of Espial $1.57 in cash per common share.
The Arrangement was previously approved at a special meeting of
shareholders of Espial held on May 21, 2019. Espial expects that the
Arrangement will be completed later today following the fulfilment of
certain closing conditions, not otherwise waived, which are customary in
transactions of this nature.
Espial is a public software company, established in 1997 and
headquartered in Ottawa, Canada. Espial solutions are used by over 100
video service providers and device manufacturers across US, Canada,
Europe & Asia. Espial’s solution portfolio includes client, server and
cloud software products along with system integration services to help
service providers launch next generation video offerings. Espial’s
customers have deployed over 50 million devices, and are serviced
through Espial’s global sales, support, and innovation centers. Espial
has partnered with leading companies like Netflix, Amazon and Google
among others for its Elevate SaaS solution, which is powers cable, IPTV
& App-based IP video services for over 30 video service providers. For
more information on Espial’s solutions, visit www.Espial.com.
For more information about Espial Elevate cloud IPTV platform, visit www.Espial.com/elevate.
Enghouse Systems Limited is a leading global provider of enterprise
software solutions serving a variety of vertical markets. Its strategy
is to build a more diverse enterprise software company through strategic
acquisitions and managed growth within its business sectors: Contact
Center, Networks (OSS/BSS) and Transportation/Public Safety. Enghouse
shares are listed on the Toronto Stock Exchange (TSX:ENGH). Further
information about Enghouse is available at www.enghouse.com.
Notice Regarding Forward Looking Statements
This news release contains forward-looking statements. Often, but not
always, forward-looking statements can be identified by the use of words
such as “plans”, “expects” or “does not expect”, “is expected”,
“estimates”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or state that
certain actions, events or results “may”, “could”, “would”, “might” or
“will” be taken, occur or be achieved. Forward-looking statements
include statements with respect to the anticipated completion of the
Arrangement and the fulfilment of any remaining closing conditions. The
forward-looking statements included in this news release are made as of
the date of this news release and neither Espial nor Enghouse undertakes
any obligation to publicly update such forward-looking statements to
reflect new information, subsequent events or otherwise unless required
by applicable securities legislation.