Tut Systems, Inc. today announced that the stockholders of Tut Systems have approved Motorola, Inc.'s proposed acquisition of Tut Systems at a special meeting of the stockholders of Tut Systems held today. The Tut Systems stockholders voted to adopt the Agreement and Plan of Merger, dated as of December 20, 2006 between Motorola and Tut Systems.
The transaction remains subject to the satisfaction or waiver of certain closing conditions set forth in the merger agreement, including the Company's obligation to enhance its VSP product to meet certain technical specifications, a limitation on the Company's net debt, and certain other conditions which must be met at the closing date - Tut Systems.
Posted March 13th, 2007 by Nymphadora