DOJ Closes Bitstream Merger Inquiry
Marlborough-based software company Bitstream Inc. announced that the U.S. Department of Justice has closed its inquiry into the proposed merger between Bitstream and Monotype Image Holdings.
Bitstream announced in November that it planned to sell its legacy font business to the Woburn-based company in a cash merger valued at $50 million.
Bitstream has said it will focus on its publishing and web-to-print division, Pageflex, as well as its movile web browser technology, called Bolt.
Bitstream created a company called Marlborough Software Development Holdings Inc. to hold those assets. Bitstream spun off MSDH on March 8 and shareholders today will each receive one share of MSDH stock for every share of Bitstream Class A common stock they owned.
Bitstream stockholders will vote on the merger on March 19.
WBJ Web Partners
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