Here's some news:
Wednesday November 26, 1:00 pm Eastern Time
Company Press Release
SOURCE: Bowne & Co., Inc.
Bowne Acquires Legal Software Division of Docucon
NEW YORK, Nov. 26 /PRNewswire/ -- Bowne & Co., Inc. (Amex: BNE - news) today announced that, through an affiliate, it has completed the purchase of all the assets of the J. Feuerstein Systems (JFS), a legal software division of Docucon, Inc. (Nasdaq: DOCU - news) for $6.5 million in cash. A leader in the legal software industry,
JFS' flagship software product, JFS Litigator's Notebook, permits attorneys to share and organize case information including documents, testimony, attorney notes, and document images. JFS is based in San Antonio,Texas, and has offices in Chicago, San Francisco and in the Washington, D.C. metropolitan area.
Robert M. Johnson, Bowne's chairman and CEO, said, ''JFS is strategically important to Bowne in two different ways. First, because its Litigator's Notebook product, which acts as a single repository for all critical case information, will help position Bowne as a high-end technology service provider to attorneys and law firms.
Second, the JFS technology itself can be modified and adapted to support other needs within law firms such as M&A activity. We also intend to use it for service offerings in other document and work flow intensiveindustries, such as pharmaceuticals and insurance.'' Mr. Johnson added, ''In addition, this acquisition reflects
our strategy of using technology to provide value-added services to Bowne outsourcing clients.
Bowne & Co., Inc., established 1775, is an information management company serving major corporations and professional firms, helping them apply the latest technologies to manage their flows of information worldwide.
Bowne is the world's largest financial printer and the leading provider of localization services to the software industry. By adding Internet and outsourcing services, Bowne offers its customers an integrated way to redesignand manage their information flows to take advantage of the latest technologies for creating, storing, moving, andpresenting information in any combination of paper and electronic formats.
Bowne offers a linked array of business services that includes printing and distribution; Internet publishing and e-commerce; intranet development and content management; design and outsourcing of office functions critical to creating and disseminating business documents; and localizing software, websites and other IT products for
use in markets around the world. Additional information is available at www.bowne.com.
SOURCE: Bowne & Co., Inc.
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And, another:
Wednesday November 26, 1:12 pm Eastern Time
Company Press Release
Docucon, Inc. Completes Sale of J. Feuerstein Systems Software
Division
SAN ANTONIO--(BUSINESS WIRE)--November 26, 1997--Docucon, Inc.(Nasdaq:DOCU - news) today announced that it has completed the sale of all of the assets of the J. Feuerstein Systems software division to an affiliate of Bowne & Co., Inc. (AMEX:BNE - news) for total consideration of $6.5 million in cash.
Ed Gistaro, Docucon's Chairman and CEO, commented, ''Jim Feuerstein has done an outstanding job developing software technology and products, including the JFS Litigator's Notebook, the leading groupware for the legal market, with the limited resources Docucon could provide. With the resources now available to JFS through
Bowne, we are confident Jim will continue to build the JFS name and product line.''
As previously announced, Docucon has also entered into a letter of intent with an unnamed investor in connection with a possible recapitalization of the Company coincident to the software division sale. The Company intends to distribute the proceeds of the sales of the J. Feuerstein division and the recapitalization, if
consummated, for anticipated total proceeds to shareholders of $1.35 to $1.75 per share. If the recapitalization is not completed, the Company will reserve the funds for potential working capital needs and possible future distribution to shareholders.
Docucon is a leader in high-volume conversions of paper and microform documents to optical and other types of storage devices for the federal and commercial markets.
Contact:
Docucon, Inc.
Edward P. Gistaro, Chairman, CEO
Lori Turner, VP, Finance
(210) 525-9221
or
DOCU'S INVESTOR RELATIONS COUNSEL:
The Equity Group Inc.
Tamara Ehlin
(212) 836-9607 |
