PR – Oce; N.V. and Captaris, Inc. have reached agreement
on the sale and purchase of Océ Document Technologies GmbH ) based
in Konstanz (Germany). The closing of the transaction is expected to take
place in January 2008 and is subject to certain closing
ODT is a provider of software and solutions for document capture, text
recognition and document classification and has about 180 employees in
Germany, US, Belgium and Switzerland.
“We have decided to sell ODT
as we consider its activities too far removed from our core business. As
part of a specialized company like Captaris, ODT can fully develop its
expertise in intelligent document recognition technologies” said Rokus van
Iperen, CEO of Océ N.V.
ODT achieved revenues of approximately €
22.7 million in 2007. The purchase price equals one time 2007 annual
The envisaged transaction will not have any material
effect on Océ’s N.V. 2009 results and onwards. In the first quarter of
2008 the transaction will have a positive impact on operating results and
on the free cash flow.