MARKHAM, ONTARIO–(Marketwired – Nov. 4, 2015) – Enghouse Systems Limited (TSX:ESL) (“Enghouse”) today announced that its indirect wholly owned subsidiary, New Acquisitions Corporation, has commenced its previously announced tender offer for all outstanding shares of common stock of CTI Group (Holdings) Inc. (“CTI”) (OTC:CTIG) at a price of US$0.61 per share in cash, for a total equity value of approximately US$22.5 million. The tender offer is being made in connection with the Agreement and Plan of Merger, dated as of October 18, 2015 (the “Merger Agreement”), by and among Enghouse, New Acquisitions Corporation and CTI, which Enghouse and CTI announced on October 19, 2015.
The CTI board of directors has unanimously determined that the offer is fair to and in the best interests of CTI’s stockholders and unanimously recommends that the CTI stockholders accept the offer and tender their shares.
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