Sajan Shareholders Approve Proposed Merger With MathStar Subsidiary
09 2월 2010 - 2:41AM
PR Newswire (US)
HILLSBORO, Ore. and RIVER FALLS, Wis., Feb. 8 /PRNewswire/ --
MathStar, Inc. (Pink Sheets: MATH.PK) ("MathStar") and Sajan, Inc.,
a Minnesota corporation ("Sajan"), jointly announced today that at
a special meeting of shareholders held on February 8, 2010, Sajan's
shareholders voted to approve the proposed merger of Sajan with
Garuda Acquisition, LLC, a Delaware limited liability company and a
wholly-owned subsidiary of MathStar (the "Sub"). As previously
announced, on January 8, 2010, MathStar, Sajan, the Sub, and Thomas
Magne, solely in his capacity as agent for the holders of common
stock of Sajan, entered into an Agreement and Plan of Merger, which
provides that Sajan will merge with and into the Sub, with the Sub
surviving the merger as a wholly-owned subsidiary of MathStar. "We
are pleased that our shareholders have approved the merger," stated
Shannon Zimmerman, Chairman and Chief Executive Officer of Sajan.
"We believe that this merger, when completed, will provide Sajan
with the platform and capital to grow our business of providing
global language services and cloud-based translation management
software." MathStar and Sajan are working toward completing the
merger transaction as soon as possible, and expect the transaction
to close during the first quarter of 2010. Statements in this press
release, other than historical information, may be
"forward-looking" in nature and are subject to various risks,
uncertainties and assumptions. These statements are based on
management's current expectations, estimates and projections about
MathStar and include, but are not limited to, those set forth in
the section of MathStar's Annual Report on Form 10-K for the year
ended December 31, 2008 filed with the Securities and Exchange
Commission on March 31, 2009 under the heading "Item 1A. Risk
Factors" and in its Quarterly Report on Form 10-Q for the quarters
ended March 31, 2009, June 30, 2009 and September 30, 2009. Except
as may be required by law, MathStar undertakes no obligation to
update any forward-looking statements in order to reflect events or
circumstances that may arise after the date of this release.
DATASOURCE: Sajan, Inc. CONTACT: Angie Langer of Sajan, Inc.,
+1-715-426-9505, , or Alexander H. Danzberger, Jr.,
+1-952-212-9373,
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