The breathing space given to troubled search engine firm Fulcrum Technologies Inc earlier this month by its principal banker Royal Bank of Canada (CI No 3,302), gave it time to find a buyer, and now document management firm PC Docs Group International Inc has made an offer. Under the agreement, PC Docs would bid to acquire all the issued and outstanding shares of Fulcrum. Fulcrum shareholders will be offered an exchange of their shares for those of PC Docs at the rate of 4.4 Fulcrum shares to one PC Docs. Up to some 4 million PC Docs shares will be issued for the acquisition. Fulcrum would continue to operate as a separate company under its own name, the companies said. The company’s current largest shareholder Datamat Ingegneria SpA, which owns around 62% of Fulcrum, will tender all its shares to PC Docs. The Fulcrum acquisition will add information retrieval to PC Docs document management suite of programs.
