BluePhoenix: BluePhoenix Solutions Files 8K - Asset Acquisition Or Disposition >BPHX

BluePhoenix Solutions Ltd. (BPHX) filed a Form 8K - Acquisition or Disposition of Assets - with the U.S Securities and Exchange Commission on December 01, 2014.On December 1, 2014, BluePhoenix completed its previously announced acquisition of Sophisticated Business Systems, Inc., a Texas corporation doing business as "Ateras," pursuant to the terms of the Merger Agreement. At the closing, Merger Sub merged with and into Ateras (the "Merger"). As a result of the Merger, the separate corporate existence of Merger Sub ceased and Ateras continued as the surviving corporation and a wholly owned subsidiary of Parent.Upon the closing of the Merger, BluePhoenix issued 6,195,494 unregistered ordinary shares, par value NIS 0.04 per share, to the former Ateras shareholders in exchange for the cancellation of the shares of Ateras stock held by such shareholders in connection with the Merger.NeitherThe post BluePhoenix Solutions Files 8K - Asset Acquisition Or Disposition >BPHX appeared first on iMarketReports.