Océ N.V. and Captaris, Inc. have reached agreement on the sale and purchase of Océ Document Technologies GmbH based in Konstanz, Germany Océ N.V. and Captaris, Inc. have reached agreement on the sale and purchase of Océ Document Technologies GmbH based in Konstanz, Germany. The closing of the transaction is expected to take place in January 2008 and is subject to certain closing conditions.

ODT is a provider of software and solutions for document capture, text recognition and document classification and has about 180 employees in Germany, US, Belgium and Switzerland.

“We have decided to sell ODT as we consider its activities too far removed from our core business. As part of a specialized company like Captaris, ODT can fully develop its expertise in intelligent document recognition technologies” said Rokus van Iperen, CEO of Océ N.V. ODT achieved revenues of approximately € 22.7 million in 2007. The purchase price equals one time 2007 annual revenues.

The envisaged transaction will not have any material effect on Océ's N.V. 2009 results and onwards. In the first quarter of 2008 the transaction will have a positive impact on operating results and on the free cash flow.