Captaris Announces Evaluation of Strategic Alternatives
Bellevue, Wash. — March 17, 2008 — Captaris, Inc. (NASDAQ: CAPA), a leading provider of software products that automate document-centric business processes, today announced that its Board
of Directors has decided to evaluate strategic alternatives to further enhance shareholder value. To oversee and expedite
this process, the Board has established a special committee comprised of Bruce L. Crockett, Daniel R. Lyle, Thomas M. Murnane,
and Patrick J. Swanick, all independent directors of Captaris.
Bruce L. Crockett, Chairman of the Board, stated, “We have received unsolicited inquiries from multiple parties who have expressed
an interest in a potential transaction with Captaris. We plan to conduct a fair, orderly and broad-based process. This process
will commence immediately and we expect to conclude it as expeditiously as possible. Our Board of Directors is committed to
conducting a thorough evaluation of alternatives to enhance value for all Captaris shareholders." David P. Anastasi, President
and CEO of Captaris added "While the Board conducts this process, we will continue to execute our strategy. In the last year
we have made great progress by significantly increasing our scale, products and market reach toward our goal of transforming
Captaris from a fax server company into a leader in intelligent document capture, distribution and process management solutions.”
There can be no assurance that the evaluation of strategic alternatives will result in any agreements or transactions. The
company does not intend to disclose developments with respect to the evaluation of strategic alternatives unless and until
its Board of Directors deems it appropriate.
The company has retained RBC Capital Markets as its financial advisor; Perkins Coie LLP and Simpson Thacher & Bartlett LLP
are acting as the company’s and the Board's legal advisors.
About Captaris, Inc. Captaris, Inc. is a leading provider of software products that automate business processes, manage documents electronically
and provide efficient information delivery. The products of Captaris and its subsidiaries Castelle and Captaris Document Technologies
GmbH, including Captaris RightFax, Captaris Workflow, Captaris Alchemy, the FaxPress line of products, RecoStar, DOKuStar,
DOKuStar Capture Suite, Single Click Entry, ID-Star, BUSY, Invoice CENTER, Tax CENTER, and Mail CENTER are distributed through
a global network of leading technology partners. We have customers in financial services, healthcare, government and many
other industries, and our products are installed in all of the Fortune 100 and many Global 2000 companies. Headquartered in
Bellevue, Washington, Captaris was founded in 1982 and is publicly traded on the NASDAQ Global Market under the symbol CAPA.
For more information please visit www.captaris.com.
The following are registered trademarks and trademarks of Captaris: Captaris, Alchemy, RightFax and Captaris Workflow. FaxPress
is a trademark of Castelle. RecoStar, DOKuStar, DOKuStar Capture Suite, Single Click Entry, ID-Star, BUSY, Invoice CENTER,
Tax CENTER and Mail CENTER are trademarks of Captaris Document Technologies GmbH. All other brand names and trademarks are
the property of their respective owners.
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