Montreal, Canada 8/2/16—Publicly held imaging analysis systems company Clemex Technologies has received a nonbinding letter of intent from its principal shareholders, RAL Diagnostics, Zwick Roell and Yves Bassat, to acquire the company for CAD 3.8 million ($2.9 million), or CAD 0.20 ($0.15 = CAD 1.31 = $1) per share, and take it private. This is a 100% premium over the July 21 price, the last day the shares traded on the TSX Venture Exchange. The three offerors control a combined 39% of the company’s shares, and have entered into a support agreement with Karol Brassard, who holds 19% of the company’s shares. A special committee of the Board is reviewing the letter of intent.

Clemex’s products include imaging software, as well as products for materials characterization. For the nine months ending January 31, sales grew 6.2% to CAN 4.5 million ($3.4 million = CAN 1.33 = $1), net profit jumped 131.7% to $121,221 due to strong cost control measures, and EBITDA expanded 42.5% to $415,857.