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Exhibit 10.17
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Contact: Geoffrey P. Clear
Vice President - Finance and Administration
MicroTouch Systems, Inc.
(978) 659-9000
FOR IMMEDIATE RELEASE
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MICROTOUCH SYSTEMS, INC. IN DISCUSSIONS REGARDING POSSIBLE BUSINESS COMBINATION
METHUEN, MASS. (NOVEMBER 7, 2000) -- MicroTouch Systems, Inc (NASDAQ: MTSI)
today announced that it is currently in negotiations which could lead to the
sale of the company. The company does not intend to issue any further comment at
this time.
This release contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995 that are subject to risks and
uncertainties that could cause actual results to differ materially from those
anticipated, including statements concerning any potential business combination,
the effects of any such transaction and the plans and objectives of management.
Those risks and uncertainties include among others: the inability to sign a
definitive agreement or to close any transaction in a timely fashion; the
inability to obtain board approval of the parties involved; the inability to
obtain governmental approvals for the potential transaction; and costs
associated with the transaction. For a more detailed discussion of the risks and
uncertainties of the company's business, please refer to the company's periodic
reports and registration statements filed with the Securities and Exchange
Commission, including the company's Annual Report on Form 10-K for the period
ended December 31, 1999 and its Quarterly Reports on Form 10-Q for the periods
ended March 31, 2000 and June 30, 2000.
MicroTouch Systems, Inc. is a global leader in the manufacture of computer
touchscreen display products incorporating the two most popular touch
technologies - analog capacitive and resistive membrane. The Company applies
these technologies in a variety of products, and markets them under the ClearTek
and TouchTek brand names. MicroTouch operates ISO 9001-certified manufacturing
plants at its worldwide headquarters in Methuen, Mass., and at its European
headquarters in Abingdon, England, and also maintains manufacturing facilities
in Texas, along with sales offices and distributors in more than 50 countries.
MicroTouch also operates TouchStore.com, an Internet-based electronic commerce
site devoted exclusively to the sale of touchscreen monitors and related
products. Founded in 1982, MicroTouch reported sales of $157.5 million in 1999.
The Company's Web site is www.microtouch.com
