MISSISSAUGA, ON and FT. LAUDERDALE, FL, July 30 /CNW/ - Hostopia.com Inc.
(TSX: H) (the "Company") today announced that stockholders have approved the
adoption of the Agreement and Plan of Merger (the "Merger Agreement"), dated
as of June 18, 2008, among the Company, Deluxe Corporation (NYSE: DLX),
("Deluxe"), Deluxe Business Operations, Inc. ("Operating Sub"), a wholly-owned
subsidiary of Deluxe, and Helix Merger Corp., a wholly-owned subsidiary of
Operating Sub (the "Merger"), at a special meeting of stockholders held today.
One hundred percent of the votes cast by stockholders, in person or by proxy,
were in favor of the Merger (representing approximately 71% of the outstanding
shares of Hostopia common stock). No Hostopia stockholders have exercised
rights of dissent in connection with the Merger.
The transaction is valued at approximately CDN$124 million and was
previously announced by Deluxe and the Company on June 19, 2008. Further
details of the Merger and Merger Agreement are set out in the Company's
management information circular dated June 27, 2008.
In accordance with the terms of the Merger Agreement, the transaction
closed shortly after the stockholder vote and a certificate of merger has been
filed with the Delaware Secretary of State, under which the merger is to
become effective as of 12:01 a.m. on August 6, 2008 (the "Effective Time"). At
the Effective Time, Deluxe, through a wholly-owned subsidiary, will acquire
all of the issued and outstanding shares of the Company's common stock at a
cash price of CDN $10.55 per share.
The Company's shares of common stock will be halted from trading on the
Toronto Stock Exchange at the opening of trading on August 6, 2008 and will
remain halted until the close of trading on August 6, 2008, at which time the
shares will be de-listed.
On or about August 12, 2008, letters of transmittal will be mailed to the
Company's stockholders of record as of the close of business on
August 5, 2008, requesting them to forward the duly completed and executed
letters of transmittal together with the certificate(s) representing their
shares of the Company's common stock to Wells Fargo Bank, N.A. in St. Paul,
Minnesota in order to receive the cash to which they are entitled.
Non-registered beneficial stockholders, whose shares are held in an account at
a financial intermediary, such as a brokerage firm, bank or dealer, will not
be sent a letter of transmittal and will receive the cash to which they are
entitled through their financial intermediary.
About Hostopia.com Inc.
Hostopia.com Inc. is a leading provider of web services that enable small
and medium-sized businesses to establish and maintain an Internet presence.
Hostopia's customers are communication services providers, including
telecommunication carriers, cable companies, internet service providers,
domain registrars, and web hosting service providers. Hostopia's customers
purchase its web services on a wholesale basis and resell these services under
their own brands to small and medium-sized businesses. Hostopia provides
customers with the technology, infrastructure, and support services to enable
them to offer web services, while saving them research and development as well
as capital and operating costs typically associated with the design,
development, and delivery of web services.
About Deluxe Corporation
Deluxe Corporation, through its industry-leading businesses and brands,
helps financial institutions and small businesses better manage, promote, and
grow their businesses. Deluxe uses direct marketing, distributors, and a North
American sales force to provide a wide range of customized products and
services: personalized printed items (checks, forms, business cards,
stationery, greeting cards, labels, and retail packaging supplies),
promotional products and merchandising materials, fraud prevention services,
and customer retention programs. Deluxe also sells personalized checks and
accessories directly to consumers. For more information about Deluxe
Corporation, visit www.Deluxe.com.
For further information:
For further information: Hostopia.com Inc, Michael J. Mugan, Chief
Financial Officer, Hostopia.com Inc., Tel: (416) 883-6727, Email: