PC Docs Group to Acquire Fulcrum

PC Docs Group (Toronto, Ontario) has entered into a series of agreements to acquire Fulcrum

(Ottawa, Ontario). Under the agreement, PC Docs will make a take over bid to acquire all issued and outstanding shares (up to approximately 4 million shares) of Fulcrum; shareholders will be able to exchange shares of PC Docs for 4.4 shares of Fulcrum. Upon completion of the offer, Fulcrum will operate as a separate company under its own name as part of PC Docs Group. Fulcrum has agreed to support the offer and will not solicit other offers; if the deal is unsuccessful, Fulcrum has agreed to pay PC Docs a termination fee. "Both PC Docs Group and Fulcrum agree that the acquisition presents an exciting future for shareholders, employees and customers, as the complementary nature of the companies provides tremendous opportunities for synergy and success," said Fulcrum chairman and CEO Eric Goodwin. "Acquiring Fulcrum is a smart move by PC Docs Group", commented Bill Zoellick, director of document software strategies at CAP Ventures (Norwell, MA). "They can now offer enterprise document system solutions in a way that is wholly complementary to their present position. Fulcrum has enjoyed rapid acceptance of the K-net product, but that lately this has been clouded by concerns over Fulcrum's financial position. This win/win deal should resolve those concerns nicely."