EX-99.1
4
a07-1283_1ex99d1.htm
EX-99
EXHIBIT
99.1
Contact:
Dan Coccoluto
Sharon Barclay
Omtool, Ltd.
Blanc and Otus
Chief Financial Officer
Investor Relations
978-327-5700
617-451-6070 x203
coccoluto@omtool.com
sbarclay@blancandotus.com
OMTOOL COMPLETES
ACQUISITION OF BLUECHIP TECHNOLOGIES
Acquisition adds healthcare document-centric
technologies, domain expertise and expanded
customer base
Andover, Mass., January 2, 2007 -
Omtool, Ltd. (NASDAQ: OMTL)
,
a leading provider of document handling solutions today announced the
successful completion of its acquisition of Danvers, Mass-based BlueChip
Technologies. Omtool announced a
definitive agreement to acquire BlueChip Technologies on November 14, 2006. Under the terms of the agreement, Omtool paid
approximately $4.1 million in Omtool, Ltd. stock, cash and promissory notes.
BlueChip Technologies
specializes in document-centric technologies for the healthcare market. The company brings a customer base of over 100
healthcare providers and will augment Omtool's considerable experience in the
healthcare vertical market. It is
expected portions of the BlueChip Technologies product line will be leveraged
in additional verticals beyond healthcare such as legal and financial services.
With the close of the
transaction BlueChip Technologies will become part of Omtool, Ltd. Omtool will market the BlueChip Technologies
solutions as standalone products while integrating them into its larger
AccuRoute product line.
About Omtool, Ltd.
Omtool, Ltd is a leading
provider of document handling solutions that simplify the integration of paper
and electronic documents in enterprise information management systems. Our flagship product, AccuRoute, streamlines
the capture, conversion and communication of paper and electronic documents,
enabling fast, secure, simultaneous distribution to multiple destinations in
multiple formats. Available at any
network-enabled scan device or from user's desktop computers, AccuRoute
provides faster, more efficient workflows, while reducing cost, complexity and
risk. Omtool solutions are used
worldwide by businesses in document-intensive industries that demand secure
handling, integration and tracking of documents in full compliance with a range
of regulatory requirements. Based in
Andover, Massachusetts with offices in the United Kingdom, Omtool can be
contacted at 1-800-886-7845 or www.omtool.com.
About BlueChip Technologies Ltd.
Based in Danvers, Mass,
BlueChip Technologies Ltd. is a Massachusetts corporation formed in 1993, whose
principal business is providing electronic forms automation, document imaging
and object archiving solutions to the end user marketplace. With a specialized focus in healthcare,
BlueChip Technologies provides system consulting, technical support and turnkey
system integration in the areas of document redesign and form work flow
re-engineering. These products and
services provide a solid foundation for BlueChip's enterprise wide document
scanning and imaging applications. BlueChip
Technology customers represent over 100 healthcare providers.
This press release
contains forward-looking statements, including, without limitation, statements
regarding the anticipated combination with BlueChip Technologies and the
benefits thereof; Omtool's objectives and expectations; future financial and
operating performance; customer interest in Omtool's Genifax(TM) and AccuRoute
products; long-term sales strategy; distribution channels; and the future plans
of Omtool's management. These
forward-looking statements are neither promises nor guarantees, and are subject
to risk and uncertainties that could cause actual results to differ materially
from the expectations set forth in these forward-looking statements, including
but not limited to, risks associated with the consummating and integrating the
BlueChip Technologies acquisition; introduction of new product offerings,
including the AccuRoute, Genidocs(TM) and Genifax software products; the
success of Omtool's channel sales strategies; business partner strategies and
new sales and marketing efforts; Omtool's investments in vertical markets,
including legal, financial services and healthcare; the continuation of market
demand for fax-based software solutions; fluctuations in quarterly results of
operations; Omtool's headquarters relocation; changes in the regulatory
environment; dependence on continuing growth in the number of organizations
implementing secure electronic document exchange; competition; product
enhancements; product concentration; declines in Omtool's legacy fax business;
seasonality; international sales; Omtool's ability to manage expansion; Omtool's
ability to obtain desired financing; acquisitions and integration of
complementary businesses; and those other risk factors described in Omtool's
periodic reports and registration statements as filed with the Securities and
Exchange Commission, including Omtool's Annual Report on Form 10-K filed with
the Securities and Exchange Commission on March 28, 2006. Reported results should not be considered an
indication of future performance. Readers
are cautioned not to place undue reliance on these forward-looking statements,
which speak only as of the date hereof. Omtool
undertakes no responsibility to update any such forward-looking statements.

EX - 99 . 1 4 a07 - 1283 _ 1ex99d1 . htm EX - 99 EXHIBIT 99 . 1 Contact : Dan Coccoluto Sharon Barclay Omtool , Ltd . Blanc and Otus Chief Financial Officer Investor Relations 978 - 327 - 5700 617 - 451 - 6070 x203 coccoluto@omtool.com sbarclay@blancandotus.com OMTOOL COMPLETES ACQUISITION OF BLUECHIP TECHNOLOGIES Acquisition adds healthcare document - centric technologies , domain expertise and expanded customer base Andover , Mass . , January 2 , 2007 - Omtool , Ltd . ( NASDAQ : OMTL ) , a leading provider of document handling solutions today announced the successful completion of its acquisition of Danvers , Mass - based BlueChip Technologies . Omtool announced a definitive agreement to acquire BlueChip Technologies on November 14 , 2006 . Under the terms of the agreement , Omtool paid approximately $ 4.1 million in Omtool , Ltd . stock , cash and promissory notes . BlueChip Technologies specializes in document - centric technologies for the healthcare market . The company brings a customer base of over 100 healthcare providers and will augment Omtool 's considerable experience in the healthcare vertical market . It is expected portions of the BlueChip Technologies product line will be leveraged in additional verticals beyond healthcare such as legal and financial services . With the close of the transaction BlueChip Technologies will become part of Omtool , Ltd . Omtool will market the BlueChip Technologies solutions as standalone products while integrating them into its larger AccuRoute product line . About Omtool , Ltd . Omtool , Ltd is a leading provider of document handling solutions that simplify the integration of paper and electronic documents in enterprise information management systems . Our flagship product , AccuRoute , streamlines the capture , conversion and communication of paper and electronic documents , enabling fast , secure , simultaneous distribution to multiple destinations in multiple formats . Available at any network - enabled scan device or from user 's desktop computers , AccuRoute provides faster , more efficient workflows , while reducing cost , complexity and risk . Omtool solutions are used worldwide by businesses in document - intensive industries that demand secure handling , integration and tracking of documents in full compliance with a range of regulatory requirements . Based in Andover , Massachusetts with offices in the United Kingdom , Omtool can be contacted at 1 - 800 - 886 - 7845 or www.omtool.com . About BlueChip Technologies Ltd . Based in Danvers , Mass , BlueChip Technologies Ltd . is a Massachusetts corporation formed in 1993 , whose principal business is providing electronic forms automation , document imaging and object archiving solutions to the end user marketplace . With a specialized focus in healthcare , BlueChip Technologies provides system consulting , technical support and turnkey system integration in the areas of document redesign and form work flow re - engineering . These products and services provide a solid foundation for BlueChip 's enterprise wide document scanning and imaging applications . BlueChip Technology customers represent over 100 healthcare providers . This press release contains forward - looking statements , including , without limitation , statements regarding the anticipated combination with BlueChip Technologies and the benefits thereof ; Omtool 's objectives and expectations ; future financial and operating performance ; customer interest in Omtool 's Genifax ( TM ) and AccuRoute products ; long - term sales strategy ; distribution channels ; and the future plans of Omtool 's management . These forward - looking statements are neither promises nor guarantees , and are subject to risk and uncertainties that could cause actual results to differ materially from the expectations set forth in these forward - looking statements , including but not limited to , risks associated with the consummating and integrating the BlueChip Technologies acquisition ; introduction of new product offerings , including the AccuRoute , Genidocs ( TM ) and Genifax software products ; the success of Omtool 's channel sales strategies ; business partner strategies and new sales and marketing efforts ; Omtool 's investments in vertical markets , including legal , financial services and healthcare ; the continuation of market demand for fax - based software solutions ; fluctuations in quarterly results of operations ; Omtool 's headquarters relocation ; changes in the regulatory environment ; dependence on continuing growth in the number of organizations implementing secure electronic document exchange ; competition ; product enhancements ; product concentration ; declines in Omtool 's legacy fax business ; seasonality ; international sales ; Omtool 's ability to manage expansion ; Omtool 's ability to obtain desired financing ; acquisitions and integration of complementary businesses ; and those other risk factors described in Omtool 's periodic reports and registration statements as filed with the Securities and Exchange Commission , including Omtool 's Annual Report on Form 10 - K filed with the Securities and Exchange Commission on March 28 , 2006 . Reported results should not be considered an indication of future performance . Readers are cautioned not to place undue reliance on these forward - looking statements , which speak only as of the date hereof . Omtool undertakes no responsibility to update any such forward - looking statements .
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