Deluxe Completes $124 Million Acquisition

Deluxe Corporation completed a $124 million all-cash acquisition of Inc., a leading TSX-listed web services provider. The acquisition was completed through an agreement and plan of merger that was consummated under Delaware law and approved by Hostopia stockholders at a special meeting held on July 30, 2008. RBC Dominion Securities Inc. acted as financial advisor to Hostopia's board of directors and Cherry Tree & Associates, LLC acted as financial advisor to Deluxe's board of directors.

Hostopia was represented in the United States by the Palo Alto office of Pillsbury Winthrop Shaw Pittman LLP, with a team including Jeffrey Harrell, Sandy Chang and Stephanie Hu. In Canada, Hostopia was represented by Michael Bayer and by Gowling Lafleur Henderson LLP, with a team including Leslie Gord and D'Arcy Doherty (corporate/securities), Gloria Geddes (tax), Bruce Graham (competition) and Bob Milnes (Investment Canada).

Deluxe was represented in the United States by the Minneapolis office of Faegre & Benson LLP, with a team including Philip Garon, Michael Stanchfield and Jonathan Nygren (corporate/securities), Peter Kinsella, Deborah Shinbein and Lisa Walter (intellectual technology) and Peggy Lin (employee benefits). In Canada, Deluxe was represented by the Toronto office of Goodmans LLP with a team including Stephen Halperin and Bill Gorman (corporate/securities), Maureen Berry (tax), Jana Steele (pensions) and Joe Morrison (employment).


Leslie T. Gord D'Arcy Doherty Robert E. Milnes Gloria J. Geddes Stephen H. Halperin Joe Morrison Bill Gorman Maureen Berry Bruce M. Graham Jana Rae Steele


Pillsbury Winthrop Shaw Pittman LLP Gowling WLG Goodmans LLP