Onyx Software (NASDAQ:ONXS)
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Onyx(R) Software Corporation (Nasdaq:ONXS), a worldwide
leader in customer management solutions for the enterprise, announced
that it has received notification from the Federal Trade Commission of
early termination of the waiting period under the Hart Scott Rodino
Antitrust Improvements Act of 1976 (HSR), as amended, relating to the
proposed acquisition of Onyx by M2M Holdings, Inc. Completion of the
HSR review satisfies a regulatory review condition to closing the
transaction.
The closing of the transaction remains subject to approval by
holders of a majority of Onyx's outstanding common stock and other
customary closing conditions. Onyx expects the transaction to close
during the third quarter of 2006.
Additional Information About the Proposed Transaction and Where to
Find It
In connection with the proposed transaction, on June 16, 2006,
Onyx filed a preliminary proxy statement with the Securities and
Exchange Commission (SEC). Investors and security holders are advised
to read the preliminary proxy statement, the definitive proxy
statement, when it becomes available, and any other relevant documents
filed with the SEC because they contain important information about
the proposed transaction and Onyx. Investors and security holders may
obtain a free copy of the preliminary proxy statement and other
documents filed by Onyx from the SEC Web site at www.sec.gov.
Onyx's directors and executive officers may be deemed to be
participants in the solicitation of proxies from the shareholders of
Onyx in connection with the proposed transaction. A description of
certain of the interests of directors and executive officers of Onyx
is set forth in the preliminary proxy statement.
About Onyx Software
Onyx Software Corporation (Nasdaq:ONXS) is a worldwide leader in
customer management and process software for mid- and large-size
enterprises. Onyx provides flexible solutions that enable
organizations to automate, manage and evolve their customer processes
quickly and cost-effectively for strategic advantage. By providing an
integrated suite of customer process automation applications
encompassing customer management, process management, and analytics
capabilities, Onyx enables enterprises to reduce costs, increase
productivity, and grow revenue. Major companies are aligning their
customer-facing departments and managing their customer processes with
Onyx software - companies such as Amway Corporation, Mellon Financial
Corporation, The Regence Group and State Street Corporation. More
information can be found at (888) ASK-Onyx, info@onyx.com or
http://www.onyx.com/.
Forward-Looking Statements
This press release contains forward-looking statements, including
statements about the expected closing of the proposed acquisition of
Onyx by M2M Holdings, Inc. Forward-looking statements are based on the
opinions and estimates of management at the time the statements are
made and are subject to risks and uncertainties that could cause
actual results to differ materially from those anticipated in the
forward-looking statements. The words "predict," "believe," "expect,"
"intend," "anticipate," variations of such words, and similar
expressions identify forward-looking statements, but their absence
does not mean that the statement is not forward-looking. These
statements are not guarantees of future performance and are subject to
risks, uncertainties and assumptions that are difficult to predict.
Factors that could affect Onyx's actual results include, but are not
limited to, the risk the transaction is not consummated or is not
consummated within the expected timeframe and the "Risk Factors"
described in our annual report on form 10-K and our quarterly report
on form 10-Q and other filings with the Securities and Exchange
Commission which are available on our investor relations home page at
www.onyx.com/investors. Readers are cautioned not to place undue
reliance upon these forward-looking statements that speak only as to
the date of this release. Onyx undertakes no obligation to update
publicly any forward-looking statements to reflect new information,
events or circumstances after the date of this release or to reflect
the occurrence of unanticipated events.
Onyx is a registered trademark of Onyx Software Corporation in the
United States and other countries. Other product or service names
mentioned herein are the trademarks of their respective owners.