MALTON, England, May 19, 2009 (GLOBE NEWSWIRE) -- Owen Dukes, CEO of Propalms (OTCBB:PRPM), announced today that the Company had received an unsolicited offer for the Company to be acquired by Opticon, a public company domiciled in Florida, for a aggregate price of $10,000,000.00.
Management of Propalms, pursuant to its duty to evaluate all opportunities which might increase shareholder value, executed a Letter of Intent with regard to the proposed transaction, but has not conducted due diligence, has not committed to any terms of the LOI, nor agreed to complete the transaction by virtue of executing the Letter of Intent. However, to the extent Propalms has information concerning Opticon, it believes that, preliminarily, Opticon appears to have a unique technology, which might prove to be an interesting fit for Propalms' products.
No further financial details were announced. Stockholders will be updated as developments occur.
About Propalms, Inc.:
Propalms, Inc. is a global provider of application delivery solutions for Terminal Services and Virtual Desktop Infrastructures. Delivering to enterprises of all sizes, Propalms offers reliable, scalable and affordable solutions that simply work. Our belief is that application delivery solutions should be flexible, dynamic and, above all, simple to use.
Statements contained in this news release, other than those identifying historical facts, constitute "forward-looking statements" within the meaning of Section 21E of the Securities Exchange Act of 1934 and the Safe Harbor provisions as contained in the Private Securities Litigation Reform Act of 1995. Such forward-looking statements relating to the Company's future expectations, including but not limited to revenues and earnings, technology efficacy, strategies and plans, are subject to safe harbors protection. Actual Company results and performance may be materially different from any future results, performance, strategies, plans, or achievements that may be expressed or implied by any such forward-looking statements. The Company disclaims any obligation to update or revise any forward-looking statements.