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% 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.
“We feel that Syntellect and Apropos are a logical fit, both in terms of products and customers. We can offer the best-of-breed, end-to-end solutions for contact centers from speech enabled self-service to live assist systems,” commented Stephen Sadler, Chairman & CEO of Enghouse.
“We believe the combination of Apropos and Syntellect is a natural one, and will present a positive future for all concerned,” remarked Ken Barwick, Apropos CEO.