Data Deposit Box Acquired by HostPapa

Data Deposit Box Inc. signed a combination agreement, following up on the binding letter agreement announced February 6, 2020, to be acquired by HostPapa, Inc., a web technology company specializing in web hosting and cloud services for small businesses.

Subject to applicable conditions, Data Deposit Box will amalgamate with a subsidiary of HostPapa, Inc. and its shareholders will receive $0.012491639 per share in cash for each share of Data Deposit Box.

After consideration and consultation with its financial and legal advisors, Data Deposit Box’s board of directors has unanimously approved the proposal and recommends that its shareholders vote in favour of the transaction at the Annual and Special Meeting of Shareholders scheduled for March 13, 2020.

The resolution approving the transaction must be approved by two-thirds of the votes cast by shareholders who vote in person or by proxy at the shareholders’ meeting.

The amalgamation transaction is expected to close immediately following the shareholder’s meeting, subject to shareholder and regulatory approvals, as well as other customary closing conditions.

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February 12, 2020 | Press Release