Printronix Announces Completion of Acquisition by Vector Capital

Business Wire, Jan 8, 2008

IRVINE, Calif. -- Date in second graph should read: January 8, 2008 (sted January 8, 2007).

The corrected release reads:

PRINTRONIX ANNOUNCES COMPLETION OF ACQUISITION BY VECTOR CAPITAL

Printronix, Inc. (Nasdaq: PTNX), a leading manufacturer of integrated enterprise printing solutions for the supply chain, today announced the completion of its acquisition by Pioneer Holding Corp., an entity controlled by Vector Capital, a San Francisco-based private equity firm. Under the terms of the $109 million transaction, Printronix stockholders are entitled to receive $16.00 per share.

Printronix common stock has ceased trading on the Nasdaq Global Market prior to the open of the market on January 8, 2008, and is no longer listed.

As previously announced, on December 27, 2007, the merger agreement was adopted at a special meeting of stockholders by the holders of a majority of Printronix's outstanding common stock, as required by Delaware law.

Stockholders who hold shares through a bank or broker will not have to take any action to have their shares converted into cash, since these conversions will be handled by the bank or broker. Stockholders who hold certificates can exchange their certificates for $16.00 per share in cash, without interest, through the payment agent, BNY Mellon Shareowner Services. BNY Mellon Shareowner Services will be mailing out instructions to registered stockholders regarding specific actions they will need to take to exchange their shares for the cash consideration.

About Printronix

Since 1974, Printronix, Inc. has created innovative printing solutions for the industrial marketplace and supply chain. The Company is the worldwide market leader in enterprise solutions for line matrix printing and has earned an outstanding reputation for its high-performance thermal bar code and fanfold laser printing solutions. Printronix also has become an established leader in pioneering technologies, including radio frequency identification (RFID) printing, bar code compliance and networked printer management. Printronix is headquartered in Irvine, California. For Company information, see www.Printronix.com.

About Vector Capital

Vector Capital is a leading private equity firm specializing in buyouts, spinouts and recapitalizations of established technology businesses. Vector identifies and pursues these complex investments in both the private and public markets. Vector actively partners with management teams to devise and execute new financial and business strategies that materially improve the competitive standing of these businesses and enhance their value for employees, customers and shareholders. Among Vector's notable investments are Savi Technology, LANDesk Software, Corel Corporation (Nasdaq: CREL), Register.com, and Watchguard Technologies. For more information, visit www.vectorcapital.com

Forward-Looking Statements

Certain statements in this press release, including statements about the potential benefits of the completed acquisition to Printronix stockholders, customers, partners and employees and other statements about our plans, objectives, intentions, and expectations are "forward-looking statements" within the meaning of the Securities Exchange Act of 1934, as amended. There are a number of risks and uncertainties that could cause actual results to differ materially from the forward-looking statements included in this document. Additional factors that may affect the future results of Printronix are set forth in its filings with the Securities and Exchange Commission, which are available at www.sec.gov. Unless required by law, Printronix undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.