Tut Systems Stockholders Approve Merger With Motorola
06 März 2007 - 10:30PM
PR Newswire (US)
LAKE OSWEGO, Ore., March 6 /PRNewswire-FirstCall/ -- Tut Systems,
Inc. (NASDAQ:TUTS) today announced that the stockholders of Tut
Systems have approved Motorola, Inc.'s proposed acquisition of Tut
Systems at a special meeting of the stockholders of Tut Systems
held today. The Tut Systems stockholders voted to adopt the
Agreement and Plan of Merger, dated as of December 20, 2006 between
Motorola and Tut Systems. The transaction remains subject to the
satisfaction or waiver of certain closing conditions set forth in
the merger agreement, including the Company's obligation to enhance
its VSP product to meet certain technical specifications, a
limitation on the Company's net debt, and certain other conditions
which must be met at the closing date. About Tut Systems, Inc. Tut
Systems, Inc. delivers advanced content processing and distribution
products as well as comprehensive system integration services for
deploying next-generation data and video services over broadband
networks. Service providers, content providers and government
agencies worldwide use Tut Systems solutions to deliver
broadcast-quality video over broadband networks. Tut Systems is
headquartered in Lake Oswego, OR. For more information, please
visit http://www.tutsys.com/ or call (971) 217-0400. Forward
Looking Statements This press release contains "forward-looking
statements" within the meaning of securities laws and it is the
Company's intent that such statements be protected by the safe
harbor created by the Private Securities Litigation Reform Act of
1995. Such statements include, but are not limited to, statements
regarding the satisfaction or waiver of certain closing conditions
and any statements that are not statements of historical facts.
While these forward-looking statements represent management's
current judgment of future events, they are subject to risks and
uncertainties that could cause actual results to differ materially
from those stated in the forward-looking statements. Important
factors that could cause actual results or events to differ
materially from those indicated by such forward-looking statements
include: (i) the parties' ability to consummate the transaction;
(ii) the conditions to the completion of the transaction may not be
satisfied; and (iii) the parties' ability to meet expectations
regarding the timing and completion of the transaction. Tut Systems
assumes no obligation to update or revise any forward-looking
statement in this press release, and such forward-looking
statements speak only as of the date hereof. DATASOURCE: Tut
Systems, Inc. CONTACT: Keith J. Wymbs of Tut Systems, Inc.,
+1-971-217-0363, or Web site: http://www.tutsys.com/
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