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J2 Global to acquire Electric Mail

This article was published more than 10 years ago. Some information in it may no longer be current.

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BURNABY, B.C., Jan. 22 - The Electric Mail Company Inc., an e-mail service provider and software developer, has entered into an agreement under which a subsidiary of j2 Global Communications Inc. will acquire all of the assets and operations of the company, and will retain all of Electric Mail's employees. J2 Global will pay to Electric Mail the equivalent of approximately $0.49 (Cdn.) per share or a total of approximately $7.0-million in cash on closing, subject to certain pre-closing adjustments.

The transaction is subject to the approval of Electric Mail shareholders, the TSX Venture Exchange and the Supreme Court of British Columbia, as well as customary closing conditions.

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