Syntellect to Acquire Apropos
MARKHAM, Ontario, PHOENIX and OAKBROOK TERRACE, Ill. - Syntellect Inc. and Apropos Technology, Inc. have signed a definitive merger agreement in which Syntellect has agreed to acquire Apropos for $2.76 per share of Apropos outstanding common stock, or approximately $50 million. The board of directors of Apropos unanimously supports the transaction, and shareholders representing approximately 42 percent of the outstanding shares of Apropos have agreed to vote in favor of the transaction.
The transaction is expected to close in late 2005 or early 2006, and is subject to customary closing conditions, including the approval of Apropos shareholders. Shareholder approval will be solicited by Apropos by means of a proxy statement, which will be mailed to Apropos shareholders upon the completion of the required Securities and Exchange commission filing and review process. Upon completion of the transaction, Apropos will become a wholly-owned subsidiary of Syntellect and Enghouse.