AUSTIN-The CEO and a group of stockholders from Austin-based Netpliance Inc. have proposed a tender offer and merger transaction to acquire outstanding shares of common stock for 65-cents per share in cash.

The investor group has triggered the talks via a letter to Netpliance’s board of directors. John F. McHale, Netpliance chairman, CEO and co-founder is part of the investor group, which owns 31,205,185 shares or approximately 52% of Netpliance’s common stock.

Netpliance’s board of directors will form a committee of independent directors to consider the investor group’s proposal. Netpliance provides infrastructure products and managed services for next-generation premium residential IP voice, video and data applications.

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