Mamma.com Inc. and Copernic Technologies Inc. have announced that Mamma.com has signed a letter of intent (LOI) whereby Mamma.com would acquire all of the shares of Copernic Technologies for a combination of cash and shares of Mamma.com Inc. The closing of the acquisition will be effected by the parties pursuant to a definitive purchase agreement, when and if negotiated and entered into by Mamma.com and Copernic. The specific terms and conditions of the LOI, including the proposed purchase price are not being disclosed at this time. The parties expect to close this transaction in the first quarter of 2005. According to the LOI, the acquisition would be subject to, among other conditions, approval by the directors of Mamma.com Inc., the shareholders of Copernic Technologies Inc., and the satisfactory completion of due diligence which has commenced on signing of the LOI. Merriman Curhan Ford & Co, an investment bank headquartered in San Francisco, is acting as M&A advisor to Mamma.com in this potential acquisition.
(www.copernic.com; www.mamma.com; www.mammamediasolutions.com)