Tumbleweed Communications Corp has announced the completion of the merger between itself and Valicert. Under the terms of the merger agreement, which has been approved by the stockholders of both companies, each Valicert share of common stock has been converted into the right to receive 0.385 of a share of Tumbleweed Common Stock. Letters of transmittal regarding the procedures to exchange Valicert common stock for Tumbleweed common stock will be sent to former Valicert stockholders in the near future. As a result of the acquisition, Valicert shares will no longer be listed on the NASDAQ stock market’s national market. The combined company will now service over 600 enterprise customers, including 9 of the 10 largest U.S. banks; 6 payment and clearing networks; 16 Blue Cross Blue Shield companies; 6 of the 10 largest U.S. pharmaceutical companies; 7 U.S. state governmental agencies; and all 4 branches of the U.S. military forces.
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