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Sencore explores Wegener acquisition
Aug 5, 2009 2:27 PM
Sencore and Wegener have entered into a nonbinding letter of intent regarding a possible acquisition of Wegener by Sencore.
Currently used in broadcast, radio, telco, enterprise and cable networks to distribute video and audio content, Wegener’s products provides tailored and off-the-shelf solutions. Sencore provides broadcasters, satellite and cable operators, telcos, retailers, engineers and installers with operational, signal monitoring and analysis, and video/audio distribution equipment. Sencore’s content delivery products are used by broadcast, cable, satellite and telco service providers across a wide range of applications.
The nonbinding letter of intent considers an acquisition by Sencore of all of the outstanding shares of Wegener’s common stock for an aggregate cash consideration equal to $6 million on a cash-free, debt-free basis.
As part of the letter of intent, Wegener has made a binding commitment to negotiate exclusively with Sencore for a period of 60 days.
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