Peerless Systems Buys Irvine Software Firm

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By
Muhammed El-Hasan
on February 27, 2008 9:36 AM | | Comments (0) |

Peerless Systems Corp., the El Segundo-based provider of imaging and networking technologies and components for the digital documents market, has agreed to buy substantially all of the assets of Prism Software Corp of Irvine.

Peerless Systems will pay $1.75 million in cash in addition to providing the right to receive up to $1.5 million in Peerless common stock, provided certain conditions are met. The deal also includes an "earn-out provision." The purchase is expected to close within the next 90 days.

Prism will become a wholly owned subsidiary of Peerless Systems. Prism's management team will become part of the El Segundo company.

Irvine-based Prism makes software for work processes, document flow and document creation and distribution.

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This page contains a single entry by Muhammed El-Hasan published on February 27, 2008 9:36 AM.

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Biz Waves is a one-stop Web hub for business news and content from the South Bay region of Los Angeles County and beyond.

The primary contributor is:

Muhammed El-Hasan, a business reporter at the Daily Breeze since 2000, covers aerospace and everything else about business in the South Bay. Muhammed previously reported at the San Bernardino Sun and the community news division of The Orange County Register. He also worked as a researcher in the Jerusalem bureau of the Los Angeles Times in 1996-97. But his career highlight as a young man was driving a forklift at a Gardena company near Hawthorne, where he grew up.

You can email Muhammed at muhammad.el-hasan@dailybreeze.com

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