Omtool moves headquarters to the Bay State
Omtool Ltd., a leading provider of document routing products and services, announced it has moved its North American headquarters from Salem, N.H. to Andover, Mass.
The company’s lease in Salem expires at the end of April.
The move gives the company 10,000 more square feet as well as technology upgrades to further expand its document routing market.
“Establishing Massachusetts as our North American headquarters places us at the center of one of the largest technology hubs in the United States,” said Robert Voelk, chairman, chief executive officer and president of Omtool. “We look forward to strengthening our presence and reputation in the Boston area and extending the reach of our AccuRoute product line. Our new Massachusetts location also allows us to prepare for future growth and be closer in proximity to our local clients.”
AccuRoute, Omtool’s flagship platform, captures, processes and distributes documents to multiple systems simultaneously.
According to filings with the U.S. Securities and Exchange Commission, Omtool closed 2005 with $14.3 million in revenue and a loss in net income of $310,000, with a loss of 8 cents per diluted share.
As of Dec. 31, 2005, Omtool had more than 8,400 customers worldwide and employed 87 people.
Omtool, which trades on the Nasdaq Stock Exchange under the symbol OMTL, closed trading on April 17 at $6.95 per share. —CINDY KIBBE