Group West Merges with Appareo Software
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B.C.-based Group West, in an effort to reorganize their operations, has merged with Appareo Software.
The boards of directors of the two companies have determined that an amalgamation and reorganization of their operations would provide greater efficiencies in their operations and enhanced value for shareholders.
According to company officials, the key reason for amalgamation is that Appareo's Document Management and Knowledge Management products are required by many of Group West's customers. Other reasons for the merger are to consolidate administration and to share programming resources.
The Offer provides that Group West and Appareo will amalgamate under the name Amalco.
Under the terms of the Offer, the shareholders of Appareo and Group West will exchange their shares of Appareo and Group West for the shares of Amalco on the basis of 1 share of Amalco for every 1 share of Appareo and 0.3 shares of Amalco for every 1 share of Group West.
Existing options and warrants of Appareo and Group West will be exchanged for options and warrants of Amalco on the basis of the same ratios.