OPEX Corporation and BOWE BELL + HOWELL Announce Agreement in Principle to Acquire OPEX Postal Technologies

WHEELING, Ill., and MOORESTOWN, N.J., Dec. 14 /PRNewswire/ -- BOWE BELL + HOWELL, a leading manufacturer of document processing and postal solutions, and OPEX Corporation, a leading provider of high-speed digital mailroom automation and document image capture solutions, announced today that the parties have entered into an agreement in principle that provides for the transferring of OPEX's Postal Technologies division to BOWE BELL + HOWELL.

By adding Postal Technologies' popular line of mail sorters and software products to its portfolio, BOWE BELL + HOWELL further strengthens its position as a leading technology supplier to the commercial presort mailing industry.

During the transition period, the parties will work closely together to continue providing uninterrupted telephone support, parts and maintenance service to existing customers. All service requests will continue to be handled through the Postal Technologies offices in Irving Texas, and customers can place service calls and access technical support using the same telephone numbers they have always used.

"We are extremely pleased to have reached this agreement in principle with BOWE BELL + HOWELL," said David Stevens, President of OPEX Postal Technologies. "Ever since we announced our intention to exit the business, our number one goal has been to find a company that would continue to provide the same world class service and support that our customers have come to expect. With BOWE BELL + HOWELL acquiring Postal Technologies, we know our customers will be well cared for, and in fact will have more product choices and access to greater resources than ever before. This is an exciting outcome for everyone involved."

When the acquisition is completed, BOWE BELL + HOWELL will receive all rights in the PTI Model 45G Letter Sorter, the OPEX MPS 17 Flats Sorter, the RJ7 and RJ10 Reject Processors, the PureOPTICS imaging system, and various software packages, including MaxiSORT sorting software and the powerful and flexible PureVISION MLOCR platform. Additionally, BOWE BELL + HOWELL will assume all Postal Technologies maintenance and licensing agreements, and will be able to offer customers the unique OPEX MPS 7 multi-purpose sorter. BOWE BELL + HOWELL will also license OPEX OCR technology.

"With the addition of the OPEX Postal Technologies business portfolio, we have significantly enhanced the solutions we can offer our customers," stated Michael Swift, president of BOWE BELL + HOWELL's Postal and Sorting Products Division. "The Model 45G is a reliable, well-known sorting platform that fits a variety of sorting needs. It can be configured as a barcode sorter, or a fully-functional MLOCR. We are also very excited about the PureVISION MLOCR system with its architecture that accommodates multiple OCR engines to achieve the highest possible read rates. We look forward to continuing to support these technologies in the market with all the rights of the Original Equipment Manufacturer (OEM) backed by the customer support model that OPEX Postal Technologies' customers have grown accustomed to. From a strategic standpoint, we are thrilled at the prospect of providing Postal Technologies solutions under the BOWE BELL + HOWELL umbrella."

About BOWE BELL + HOWELL

Headquartered in Wheeling, Ill., BOWE BELL + HOWELL, a company with more than 70 years of industry experience, is a leading provider of high-performance document management solutions and services. The company's portfolio of cutting, packaging, inserting, plastic card, sorting, integrity, print-on-demand and software solutions is the most comprehensive product offering for paper-based and digital mail communications. These solutions are supported by one of the largest dedicated service organizations in the industry. For further information on BOWE BELL + HOWELL, please visit www.bowebellhowell.com.

About OPEX Corporation

Headquartered in Moorestown, NJ, OPEX Corporation is a recognized global technology leader in high-speed digital mailroom automation and document image capture solutions. Founded in 1973, OPEX systems have provided performance enhancing workflow solutions and cost-effective results to thousands of organizations around the world. www.opex.com.

Contact: Laura Harper of OPEX Corporation, +1-856-727-1100