Hummingbird Communications Ltd and PC DOCS Group International Inc announced they have entered into an agreement pursuant to which Hummingbird would acquire PC DOCS Group. Each outstanding common share of PC DOCS Group will be exchanged for 0.3333 of a common share of Hummingbird. As a result of the transaction, PC DOCS Group will become a wholly-owned subsidiary of Hummingbird. The transaction values PC DOCS Group at approximately US$155 million, representing a 38% premium for PC DOCS Group shareholders based on the average closing prices of the two companies’ shares over the last ten trading days prior to the announcement of the transaction. Following the completion of the transaction, which is estimated to be during May 1999, PC DOCS Group will become an operating division of Hummingbird, continuing to serve and support its customers in close collaboration with the Hummingbird organization. The Boards of Directors of Hummingbird and PC DOCS Group have each unanimously approved the transaction. Ruby Osten will become Vice Chairman of an expanded seven person board of directors of Hummingbird and will retain his position as President of PC DOCS Group.