PRESS RELEASE
Published on
FOR IMMEDIATE RELEASE
Contacts:
Chris Tessier
Manager, Media Relations
203-351-7210
tessiech@pb.com
Scott Gerschwer
Manager, Media Relations
203-739-3163
gerschsc@pb.com
Kris Otridge
Lippert Heilshorn& Associates, Inc.
415-433-3777
kris@LHAI-SF.com
PITNEY BOWES COMPLETES TENDER OFFER FOR
SHARES OF ALYSIS TECHNOLOGIES
STAMFORD, CT. and EMERYVILLE, CA-- (May 3, 2001) -- Pitney Bowes Inc. (NYSE:
PBI) announced the successful completion of its tender offer for all the issued
and outstanding shares of common stock of Alysis Technologies, Inc. (OTCBB:
ALYS). The offer, priced at $1.39 per share, expired at 5:00 p.m. New York City
time on May 2, 2001, following the expiration of a subsequent offering period
begun at 9:00 a.m. New York City time on April 26, 2001.
At last count, 10,231,369 shares of Alysis common stock, representing
approximately 91.26% of the outstanding shares of Alysis common stock, and
2,417,112 shares of Alysis class B common stock, representing 100% of the
outstanding shares of Alysis class B common stock, have been tendered prior to
the expiration of the subsequent offering period.
Pitney Bowes, through its wholly-owned subsidiary Maui Acquisition Corp., has
accepted for payment all the shares validly tendered and not properly withdrawn
at 12:00 midnight, New York City time on April 25, 2001 (the initial expiration
date of the offer), and has made payment for such shares to Wilmington Trust
Company, the depositary, on April 27, 2001. It has also instructed Wilmington
Trust to immediately accept and promptly pay for all validly tendered shares as
they are tendered during the subsequent offering period.
Pitney Bowes expects to cause Maui to merge with Alysis on May 3, 2001 or as
soon as practicable thereafter. Once the proposed merger is effective, Alysis
will then become a
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wholly-owned subsidiary of Pitney Bowes. The acquisition will give Pitney Bowes
industry-leading software and services that integrate web-enabled documents into
overall e-commerce strategies and complement the company's existing capabilities
and expertise in this rapidly emerging market.
The merger is expected to be consummated without a vote or meeting of Alysis'
stockholders. However, as part of the merger, each of the remaining Alysis
shares of common stock, other than shares for which appraisal rights have been
demanded, will be converted into $1.39 in cash, without interest.
PITNEY BOWES INC. is a $4 billion global provider of integrated mail and
document management solutions headquartered in Stamford, Connecticut. Pitney
Bowes serves over 2 million businesses of all sizes through dealer and direct
operations. Its docSense unit is the premier global provider of solutions for
the creation and distribution of efficient and effective documents in paper and
digital form. Additional information about Pitney Bowes or Pitney Bowes docSense
is available at www.pitneybowes.com or www.docsense.pb.com.
ALYSIS TECHNOLOGIES, INC. is a provider of component-based e-billing software
that snaps-in to any major e-commerce implementation. Its modular WorkOut
products enable companies to solve complex business problems via streamlining
billing, payment, processing, dispute management, workflow and data analysis.
Additional information about Alysis is available at www.alysis.com.
This release contains "forward-looking statements" based on management's
expectations and assumptions and are subject to risks and uncertainties that may
cause actual results to differ from those expressed. Factors that could cause
differences include: Pitney Bowes' success in obtaining, retaining and selling
additional services to clients; the pricing of products and services; overall
economic trends, including interest rate and foreign currency trends; stock
market activity; electronic bill presentment and payment industry changes;
employment levels; changes in technology; availability of skilled technical
associates; and the impact of new acquisitions.
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