Axiohm Transaction Solutions Completes Business Combination.SAN DIEGO--(BUSINESS WIRE)--Oct. 2, 1997--Axiohm Transaction Solutions Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :AXHM) (formerly DH Technology Inc.) announced today that it has completed its previously announced business combination with Axiohm S.A., a private French company. The series of transactions began with a cash tender offer completed in August 1997 by a subsidiary of Axiohm S.A. for 7,000,000 shares of DH Technology Inc.'s common stock and culminated today with the exchange of a portion of the tendered shares for the outstanding shares of Axiohm S.A. and the merger of Axiohm's subsidiary into DH Technology. The former shareholders of Axiohm S.A. now own approximately 85% of the approximately 6.5 million outstanding shares of common stock of the surviving company surviving company The company that emerges in control following a business combination. The surviving company is generally one of the firms entering the combination but may be a new company formed by the combination. . Concurrently with the merger, DH Technology changed its name to Axiohm Transaction Solutions Inc. and its stock symbol to "AXHM." The transactions were financed by the sale by Axiohm Transaction Solutions in a private offering of $120,000,000 of 9-3/4 Senior Subordinated Notes due 2007, borrowings under a new Senior Credit Facility and existing cash. The financing was arranged by Lehman Brothers Lehman Brothers Holdings Inc. (NYSE: LEH), founded in 1850, is a diversified, global financial services firm. It is a participant in investment banking, equity and fixed income sales, research and trading, investment management, private equity, and private banking. . The headquarters of the company will continue to be in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. . William William, crown prince of Germany William or Frederick William, 1882–1951, crown prince of Germany, son of William II. In World War I he commanded (1914) an army on the Western Front and was nominal commander in the German attack H. Gibbs Gibbs , Josiah Willard 1839-1903. American mathematician and physicist who formulated the theoretical foundation of physical chemistry, developed vector analysis, and conducted optical and thermodynamic research. Noun 1. continues as president and chief executive officer of Axiohm Transaction Solutions, Walter Sobon will remain as chief financial officer and Patrick Dupuy and Gilles Gibier have become co-chairmen of the board of directors. Gibbs commented, "By combining DH Technology and Axiohm, we have emerged as a worldwide leader in innovative transaction printing solutions and will continue to expand in this marketplace. Additionally, we will leverage our core technologies to grow in new markets, such as those including magnetic stripe A small length of magnetic tape adhered to credit cards, badges, permits, passes and tokens. The tape is read by magnetic stripe readers incorporated into ATMs, identification readers and payment terminals. and computer chip card readers." Axiohm Transaction Solutions is one of the two largest non-captive designers, manufacturers and marketers of transaction printers in the world and is the only transaction printer manufacturer currently manufacturing its own thermal and impact printheads. Axiohm's transaction printer products are used in retail, financial and commercial transactions to provide transaction records such as receipts, tickets, register journals, checks and other documents. Axiohm also has an increasing sales presence in the markets for magnetic stripe and computer chip card readers and bar code printers and related consumable A material that is used up and needs continuous replenishment, such as paper and toner. "The low-tech end of the high-tech field!" supplies. CONTACT: Axiohm Transaction Solutions Inc. Walter S. Sobon, 619/451-3485 or Morgen-Walke Associates Chris Danne/Doug Sherk, 415/296-7383 |
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