Monday, April 28, 2008
Peerless Gets Approval On Sale
El Segundo-based Peerless Systems said Monday afternoon that its stockholders have approved the sale of substantially all of its intellectual property and other assets to Kyocera Mita Corporation. The firm said the deal was worth $37M in cash. Peerless had announced the sale in January, which gives its digital imaging software and printing related technology to Kyocera, which was the firm's primary customer. The firm said that 96 percent of shares voting approved the transaction.