SofTech Enters into Agreement to Sell PLM Product Line to Essig Research Inc.

About SofTech

SofTech, Inc. (OTCQB: SOFT) is a proven provider of product lifecycle management (PLM) solutions, including its ProductCenter® PLM solution and its Connector technology.

SofTech’s solutions accelerate productivity and profitability by fostering innovation, extended enterprise collaboration, product quality improvements, and compressed time-to-market cycles. SofTech excels in its sensible approach to delivering enterprise PLM solutions, with comprehensive out-of-the-box capabilities, to meet the needs of manufacturers of all sizes quickly and cost-effectively.

Over 100,000 users benefit from SofTech software and service solutions, including General Electric Company, Goodrich, Honeywell, Finmeccanica and the U.S. Army. Headquartered in Lowell, Massachusetts, SofTech has locations and distribution partners in North America, Europe, and Asia.

HomeView, SofTech’s most recent software and service solution, is a secure, intelligent home asset management and maintenance system. HomeView allows homeowners to create a virtual home manual that logs, manages and tracks personal assets and attributes about the property. Home ownership is made easier by managing user manuals, warranty periods, service records, maintenance reminders and other projects with HomeView.

SofTech, ProductCenter and HomeView are registered trademarks of SofTech, Inc. All other products or company references are the property of their respective holders.

About Essig

Essig is a world-class, ISO 9001 registered, high-tech engineering and manufacturing services company. They provide professional services specialized in engineering design and analysis, product definition, computer modeling, repair and tooling development, project management, logistics support, and advanced manufacturing techniques to customers worldwide. Founded in 1993, Essig’s roots were in the development of complex 3-D finite element models and providing thermal and structural analysis of turbine airfoils to GE Aviation. Today, Essig has grown into a global business providing a variety of technical and logistical services through talented employees in several strategic locations in the U.S., Puerto Rico, Mexico and the Philippines.

Safe Harbor for Forward-Looking Statements

Certain statements contained herein are “forward looking” statements as such term is defined in the Private Securities Litigation Reform Act of 1995, including, without limitation, statements regarding the following: the closing of the transaction and its timing; the Company’s potential receipt of earn-out proceeds from post-closing contingent payments; the potential benefits to the Company of effecting the transaction; the Company’s use of NOLs to shelter realized gain from the transaction for taxation; and the market opportunity for HomeView. These forward-looking statements are subject to risks and uncertainties which may make actual results differ materially from those expressed or implied in the forward-looking statement, including, without limitation, the following: the Company’s ability to satisfy the closing conditions set forth in the definitive asset purchase agreement, including the receipt of the requisite shareholder approval; Essig’s discretion to operate its post-closing business in a way which may or may not result in contingent payments being realized; the availability of the Company’s NOLs to shelter realized gain from the transaction for taxation; and the Company’s ability to implement its plan to expand its HomeView business, as well as the information under the caption “Risk Factors” contained in the Company’s Annual Report on Form 10-K filed with the SEC and in other filings the Company makes with the SEC. The Company undertakes no obligation to update the foregoing information to reflect subsequently occurring events or circumstances.

Additional Information and Where to Find It

This press release may be deemed to be a solicitation of proxies from the Company’s shareholders in connection with the proposed transaction. In connection with the proposed transaction, the Company intends to file a proxy statement and relevant documents with respect to the special meeting to be held in connection with the proposed transaction with the U.S. Securities and Exchange Commission (“SEC”). The definitive proxy statement will be mailed to the Company’s shareholders in advance of the special meeting. Investors and security holders of the Company are urged to read the proxy statement and any other relevant documents filed with the SEC when they become available because they will contain important information about the Company, Essig and the proposed transaction. The proxy statement, when it becomes available, and any other documents filed by the Company with the SEC may be obtained free of charge at the SEC’s website at In addition, investors and security holders may obtain free copies of the documents filed with the SEC by the Company by sending a written request to SofTech, Inc., Attn: Corporate Secretary, 650 Suffolk Street, Suite 415, Lowell, Massachusetts 01854 or by calling the Company at (978) 513-2700. Investors and security holders are urged to read the proxy statement and the other relevant materials when they become available before making any voting or investment decision with respect to the proposed transaction.

Participants in the Solicitation

The Company and its directors and executive officers may, under SEC rules, be deemed to be participants in the solicitation of proxies from the Company’s shareholders in connection with the proposed transaction. Information about the directors and executive officers, including their interests in the transaction, will be included in the Company’s proxy statement relating to the transaction when it becomes available.

Review Article Be the first to review this article

SolidCAM: Program your CNCs directly inside your existing CAD system.

Featured Video
Inside Sales for SolidCAM at Newtown, PA
Director of Mechanical Engineering for Velodyne LIDAR at Morgan Hill, CA
Database Specialist for MDA Information Systems LLC at Gaithersburg, MD
Sr. GIS Technical Analyst for Southern California Edison SCE Transmission and Distribution Organization at Rosemead, CA
Project Architect for LAMBERT Architecture and Interiors at Winston-Salem, NC
Upcoming Events
DriveWorks World at The Barley Store Laskey Lane Thelwall Cheshire United Kingdom - Mar 6 - 9, 2017
JEC World 2017 at Paris Nord Villepinte Exhibition Centre Paris France - Mar 14 - 16, 2017
SOLIDWORKS funding event – Leicester at The National Space Centre, Exploration Dr, Leicester, LE4 5NS Leicester United Kingdom - Mar 17, 2017
ACE 2017 Nashville at Nashville TN - Mar 21 - 23, 2017

Internet Business Systems © 2017 Internet Business Systems, Inc.
595 Millich Dr., Suite 216, Campbell, CA 95008
+1 (408)-337-6870 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy Policy Advertise