Eagle Point Software Corporation, Dubuque, Iowa, entered into a merger agreement with JB Acquisitions LLC, of Dubuque, Iowa. JB Acquisitions is an entity formed by John F. Biver, a founder, current director and former executive officer of Eagle Point.
Talon Acquisition Corp., a newly formed, wholly owned subsidiary of JB Acquisitions, will become one with Eagle Point according to the terms of the agreement. JB Acquisitions, Talon and Digital Canal Corporation also entered into a definitive agreement in which Digital Canal will purchase the operating assets of Eagle Point’s Building Design and Construction Division and its Structural Division for approximately $1.1 million. Digital Canal Corporation is an entity formed by Rodney L. Blum, a current director and former executive officer of Eagle Point. Completion of the merger is subject to conditions including regulatory approvals, the approval of Eagle Point’s stockholders, and other necessary financing. The proxy statement, once filed, will be available at the SEC’s website (www.sec.gov.)
Eagle Point offers modules in the fields of field data collection, civil engineering and surveying, hydrology, landscape architecture, building design and construction and structural engineering.