Business News

Captaris Acknowledges Receipt of Unsolicited Proposal From Vector Capital

Wednesday 19. March 2008 - Captaris, Inc. (NASDAQ:CAPA), a leading provider of software products that automate document-centric processes, confirmed receipt of an unsolicited proposal from Vector Capital, a private equity firm, to acquire all of the Company's outstanding shares for $4.75 per share.

As previously announced on March 17, 2008, Captaris’ Board has established a special committee of independent directors to evaluate strategic alternatives to further enhance shareholder value. Captaris announced that it will review Vector’s proposal as a part of its evaluation of strategic alternatives.

Bruce L. Crockett, Chairman of the Board, stated, “We are committed to an expeditious process to identify and pursue the alternative that best enhances value for all our shareholders. The Board of Directors of Captaris, in consultation with its independent advisors, will carefully consider and review Vector Capital’s proposal together with all other proposals developed during this process.”

The Company has retained RBC Capital Markets as financial advisor; in addition to RBC, Credit Suisse continues to be engaged as financial advisor to the Company. Perkins Coie LLP and Simpson Thacher & Bartlett LLP are acting as the company’s and the Board’s legal advisors.