Captaris to Acquire Oce Document Technologies

Major Milestone in Fully Enabling Document Capture, Collaboration and Workflow

BELLEVUE, Wash., Dec. 20 /PRNewswire-FirstCall/ -- Captaris, Inc.
(Nasdaq: CAPA), a leading provider of software products that automate
document-centric processes, announced today that it has agreed to acquire Oce
Document Technologies GmbH (ODT), a provider of software and solutions for
document capture, text recognition and document classification. ODT, a wholly
owned subsidiary of the Oce Group since 2000, has approximately 180 employees
and maintains its global headquarters in Constance, Germany, and its North
American office in Bethesda, Maryland. ODT had revenue of approximately
EUR 22.7 million in 2007.
Under the terms of the acquisition agreement, Captaris will acquire ODT
for approximately EUR 10.4 million in cash, net of ODT's expected cash balance
as of the closing of approximately EUR 20 million. Captaris will also assume
ODT's operating and financial liabilities, including approximately
EUR 12.1 million in future retirement and bonus obligations. The purchase
price is subject to adjustment following the closing based on ODT's actual
revenue for the year ended November 30, 2007 and its actual cash balance as of
the closing. The transaction is expected to close in January 2008, subject to
certain closing conditions. Captaris expects the acquisition to be accretive
to earnings in 2008 excluding non-cash charges related to purchase accounting.
Updated revenue and earnings guidance reflecting the acquisition will be
provided in the Captaris 2007 fourth quarter earnings conference call, which
will be held in February 2008.
"The acquisition of ODT represents a major milestone in our strategic
direction and we believe it will deliver substantial shareholder value," said
David Anastasi, President and CEO of Captaris. "ODT's expertise in
intelligent document recognition technologies supports our vision of fully
enabling document capture, collaboration and workflow." Anastasi added, "We
are extremely impressed with the talented team at ODT and look forward to
welcoming them to Captaris."
Captaris channel partners will benefit from this acquisition in the near
term by offering ODT's technologies integrated with Captaris products. "As we
continue to merge our technologies, Captaris customers can expect to see
advances in intelligent document routing, more extensive character
recognition, and document classification capabilities added to Captaris
RightFax and Alchemy. Our FaxPress and Captaris Workflow customers will also
benefit from having access to these new technologies," said Paul Yantus,
executive vice president of Marketing and Product Development for Captaris.
"ODT customers and business partners will benefit through access to Captaris
strategic alliances and other technologies, and from an increased commitment
to development of ODT's RecoStar, DOKuStar, and Single Click Entry products."
About Captaris, Inc.
Captaris, Inc. is a leading provider of software products that automate
document centric business processes. Captaris specializes in document
capture, recognition, routing, workflow, and delivery. Captaris integrated
solutions provide interoperability with the leading line of business
applications and technology platforms. Captaris products RightFax, Captaris
Workflow, Alchemy and FaxPress are distributed through a global network of
leading technology partners. Captaris customers include the entire Fortune
100 and the majority of the Global 2000 companies. Headquartered in Bellevue,
Washington, Captaris was founded in 1982 and is publicly traded on NASDAQ
Global Market under the symbol CAPA. For more information visit
http://www.captaris.com.
About Oce Document Technologies
Oce Document Technologies GmbH is a world leader and competence partner
for input management and the optimization of business processes. The company
is also a global provider of products in the related core technologies such as
scanning, character recognition and document interpretation. ODT products
include RecoStar, DOKuStar, Single Click Entry and ID-Star.
The following are registered trademarks and trademarks of Captaris:
Captaris, Alchemy, RightFax and Captaris Workflow. FaxPress is a trademark of
Castelle. RecoStar, DOKuStar, ID-Star and Single Click Entry are trademarks of
Oce Document Technologies GmbH. All other brand names and trademarks are the
property of their respective owners.
Certain statements in this press release are "forward-looking statements"
within the meaning of the Private Securities Litigation Reform Act of 1995,
including, without limitation, statements regarding the expected purchase
price and closing date of the acquisition, the expectation that the
acquisition will be accretive to 2008 earnings per share, the other expected
benefits of the transaction and the belief that the acquisition will deliver
substantial shareholder value. Forward-looking statements include all passages
containing verbs such as "aims," "anticipates," "believes," "estimates,"
"expects," "intends," "plans," "predicts," "projects" or "targets" or nouns
corresponding to such verbs. Forward-looking statements also include any other
passages that are primarily relevant to expected future events or that can
only be evaluated by events that will occur in the future. Forward-looking
statements are based on the opinions and estimates of the management at the
time the statements are made and are subject to certain risks and
uncertainties that could cause actual results to differ materially from those
anticipated in the forward-looking statements. Factors that could affect
Captaris' actual results include, among others, the risk that the transaction
will not close or that the closing may be delayed, the failure to successfully
integrate ODT, its products and employees into Captaris and achieve expected
synergies, failure to retain ODT employees, the potential failure to maintain
and expand the companies' network of dealers and resellers or to establish and
maintain strategic relationships, inability to develop new products or product
enhancements on a timely basis, inability to protect our proprietary rights or
to operate without infringing the patents and proprietary rights of others,
and quarterly and seasonal fluctuations in operating results. More information
about factors that potentially could cause actual results to differ from the
forward looking statements is included in Captaris' quarterly reports on Form
10-Q filed in 2007 and most recent annual report on Form 10-K filed with the
Securities and Exchange Commission. Readers are cautioned not to place undue
reliance upon these forward-looking statements that speak only as to the date
of this release. Except as required by law, Captaris undertakes no obligation
to update any forward-looking or other statements in this press release,
whether as a result of new information, future events or otherwise.
SOURCE Captaris, Inc.

Investor Relations, Erika Simms, Treasury Analyst of Captaris, Inc.,
ErikaSimms@Captaris.com; or Todd Kehrli or Jim Byers, both of MKR Group, Inc.,
+1-323-468-2300, capa@mkr-group.com, for Captaris, Inc.