WINNIPEG, Feb. 3 /CNW/ - OMT Inc. ("OMT") (TSX Venture: OMT) announces
that it has undertaken a review of its strategic alternatives and is
currently in discussions with an interested party regarding the
potential acquisition of OMT Technologies, Inc., a wholly-owned
subsidiary of OMT comprising substantially all of the assets of the
company. At this time, there is no legal obligation on OMT or the
interested party to complete a transaction. Any transaction will be
subject to the parties entering into a definitive agreement and the
satisfaction of a number of conditions, including due diligence and
receipt of applicable approvals.
OMT has considered a number of strategic alternatives during its
strategic review process and at this time has concluded that there is
no strategic alternative currently available to it that would result in
net proceeds in excess of its debt obligations.
OMT also announced today the resignation of Harold Heide as a director
of OMT. Mr. Heide has acted as the representative for GrowthWorks
Canadian Fund Ltd. on OMT's Board of Directors.
OMT Inc. (OMT) is a technology solutions provider to the broadcast and
media industries across North America and Internationally. iMediaTouch
is OMT's flagship product suite of audio content management and digital
delivery software for commercial and non-commercial broadcast radio
applications. OMT's iMediaTouch Radio Automation software and radio's
#1 selling digital logger, iMediaLogger, are installed worldwide in
individual stations, station groups and some of the largest broadcast
and audio delivery services to distribute audio content heard by
millions of people worldwide through television, radio, satellite,
cable and internet broadcasts. To learn more about our Company,
products and services, visit at www.omt.net.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this press release.
SOURCE OMT Inc.
For further information:
Executive Chairman & President
Phone: (204) 975-0792