Eagle Point Income Company Inc V.EIC

ALMOST A DONE DEAL NOW........

[buylowsellhighr]

Thursday October 12, 5:59 pm Eastern Time Press Release i-Data to Make an Offer for 100% of Eicon at CDN$5.00 per Share and Eicon's Board Recommends Acceptance of the Offer MONTREAL, QUEBEC--i-data international a-s (``i-data'') and Eicon Technology Corporation (``Eicon'') are pleased to announce that i-data has agreed to make an offer (the ``Offer''), directly or through a wholly-owned subsidiary, to purchase all of the outstanding common shares of Eicon at a cash price of CDN$5.00 per share. The Offer will be subject to various conditions, including the valid deposit of not less than 662/3% of the common shares of Eicon (on a fully-diluted basis), the obtaining of all necessary approvals from regulatory authorities to consummate the Offer and to acquire all of the outstanding common shares of Eicon, and other standard conditions. i-data has engaged CIBC World Markets Inc. to act as soliciting dealer. It is expected that i-data will mail the offer to Eicon shareholders within 5 business days. Holders of 19,252,756 common shares of Eicon, representing over 50% of the common shares (on a fully- diluted basis), have agreed to tender their common shares to the Offer pursuant to agreements entered into with i-data. ``We're pleased to have concluded our negotiations with Eicon's main shareholders, enabling us to announce our offer to acquire all outstanding shares of Eicon,'' says i-data CEO Nick Jensen. ``The combination of i-data and Eicon will create a global leader within Secure Internet Connectivity, and will allow i-data to significantly expand its technology and market penetration.'' ``The combination of Eicon's DIVA family of products and i-data's secure Internet products will allow us to provide our customers with a wide range of Internet connectivity solutions,'' said Eicon's President and CEO Peter Brojde, ``This pre-eminent technology together with Eicon's strong distribution capabilities around the world will position the company as an international leader in the Internet access market. I'm convinced the combination of Eicon and i-data will create a win-win situation for all involved: employees, customers, shareholders, and partners.'' Upon the unanimous recommendation of an independent committee of the Board of Directors of Eicon, the company has agreed to enter into a support agreement with i-data and Eicon's Board of Directors (the ``Board'') is recommending that the shareholders of Eicon accept the Offer. National Bank Financial Inc. was retained by the independent committee to act as its financial advisor and provided its opinion that the Offer is fair, from a financial point of view, to holders of common shares of Eicon. The support agreement, negotiated by the independent committee of the Board, provides for the payment of $5,700,000 to i-data in certain circumstances, including the Board changing its recommendation to accept the Offer. Eicon Technology Corporation Eicon Technology Corporation is a worldwide provider of Internet access products. The Company develops, markets and supports hardware and software products for connecting PCs and network servers to the Internet and corporate networks and supplies media gateways for voice IP and unified messaging. Eicon's products are sold in more than 80 countries through a network of channel partners, telecommunications companies and Original Equipment Manufacturers. Eicon shares are traded on the Toronto Stock Exchange under the symbol ``EIC''. Information about Eicon and its products is available at https://www.eicon.com. i-data international i-data international a-s is a Denmark-based international IT company comprised of two business areas: * Secure Internet Connectivity: One of Europe's leading vendors of Internet connectivity and security products, with an emerging presence worldwide. Marketed under the LASAT Networks brand. * Workflow & Output Management: A market and technology leader in the workflow & output management market, with distribution worldwide. Marketed under the i-data Printing Systems, GammaGraphX (GGX) and MPI brands. i-data has an installed base of several million units, and currently has approximately 350 employees worldwide. i-data is a publicly traded company on the Copenhagen Stock Exchange. More information about i-data is available at https://www.i-datac.com Contact: Eicon Technology Corporation Peter Brojde Chief Executive Officer [phone] [e-mail] or Eicon Technology Corporation François Campeau Vice-President Finance [phone] [e-mail] or Eicon Technology Corporation Kim Lachapelle Director of Investor Relations [phone] [e-mail] or i-data international Nick Jensen Chief Executive Officer ([phone] or i-data international Karsten Dyhrberg Nielsen Sr. VP Investor Relations ([phone] or i-data international Jakob Faarvang Public Relations Manager ([phone] Email this story - View most popular stories emailed