So long CENL...I learned a lot from this company...jbk
biz.yahoo.com
Monday April 30, 6:12 pm Eastern Time
Solectron Completes Acquisition of Centennial Technologies
Acquisition Adds Design, Manufacturing and Marketing Capabilities For PC Card-Based Products
MILPITAS, Calif., April 30 /PRNewswire/ -- Solectron Corporation (NYSE: SLR - news), the world's leading provider of electronics manufacturing and supply-chain management services, announced today that it has completed its acquisition of Centennial Technologies, Inc. (Nasdaq: CENL - news). Under the terms of the transaction, stockholders of Centennial received 0.542 shares of Solectron stock for each share of Centennial stock. Solectron issued or reserved for issuance 2.96 million shares of Solectron common stock, which shares include the assumption of all Centennial stock options. The transaction was accounted for under the purchase method of accounting and was structured as a tax-free reorganization. Effective May 1, 2001, Centennial will no longer be traded on the Nasdaq National Market.
This acquisition is another step in enabling Solectron to strengthen its Technology Solutions Business Unit, which is headed by Ajay Shah and includes SMART Modular Technologies, Inc. and Force Computers, Inc. Solectron and Centennial originally announced their definitive merger agreement on Jan. 23.
As a result of the transaction, Solectron gained all of Centennial's design, manufacturing and marketing capabilities, which include memory module and memory card solutions based on SRAM and flash technologies for original equipment manufacturers (OEMs) and end-users in markets such as telecommunications, data communications, mobile computing and medical. |
