Zygo Corporation to be acquired by AMETEK Inc. in a $280M Deal and xG Technology Enters into Agreement with Autonomous
Zygo Corporation (NASDAQ: ZIGO) hit a new yearly high after the company announced that it has agreed to terms on a merger with AMETEK Inc. AMETEK will acquire all outstanding shares of Zygo stock at a price of $19.25 per share in cash. The value of the deal is approximately $280 million and the merger is expected to be completed by the end of the second quarter of 2014.
Zygo Corporation designs, develops, manufactures, and sells ultra-high precision measurement solutions, and optical sub-systems and components for original equipment manufacturers and end-user applications worldwide. The companys Metrology Solutions segment offers 3-dimensional (3D) surface metrology products, precision positioning systems, and custom engineered solutions used to measure surface characteristics and critical parameters, including topography and roughness, shape, dimension, thickness, optical characteristics, and defects.
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xG Technology, Inc. (NASDAQ: XGTI) has entered into a funded product testing agreement with Autonomous University of Nuevo Leon of Monterey, Mexico to test xG's xMax network system for a set of potential use cases by an undisclosed major Mexican corporation. The test is expected to run for six months. "This paid engagement, supported by the University, demonstrates that the xMax solution has application in international markets - in addition to the U.S. It also shows that spectrum issues extend beyond our borders," said xG President James Woodyatt. "We will be providing the University with the products, support and operational training needed to conduct a comprehensive evaluation over the next 180 days."
xG Technology, Inc. develops communications technologies for wireless networks worldwide. It primarily offers a portfolio of intellectual property to enhance wireless communications. The company’s intellectual property is embedded in proprietary software algorithms designed to offer cognitive interference mitigation and spectrum access solutions to organizations in a various industries, including national defense and rural broadband.
Get more information on xG Technology, Inc. free access to the in depth equity report at: www.TrendingWallStreet.com/stockquote/XGTI
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