Monday, January 7, 2008

Captaris Completes Oce Document Technologies Acquisition

Captaris Inc., a publisher of document-process automation software, revealed Monday that it has concluded its acquisition of Oce Document Technologies GmbH, a German-based developer of document manipulation applications. According to Captaris, the transaction constituted a cash payment of $15.3 million. Captaris said it also assumed all of ODT's operating and financial liabilities, including $17.8 million in future retirement and bonus obligations. Captaris added that, once renamed, ODT will operate under the name Captaris Document Technologies GmbH. Located in Constance, Germany, with U.S. offices in Bethesda, Md., ODT currently employs some 180 people. Founded in 1982, Captaris is headquartered in Bellevue, Wash.