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Technology Stocks : Digital Ally Inc. - DGLY

DGLY 1.610

-1.8%

Nov 7 9:30 AM EST

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From: David Alan Cook	12/14/2008 1:14:31 PM
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Digital Ally considers ‘strategic alternatives’Kansas City Business Journal Surveillance equipment maker Digital Ally Inc. has hired Banc of America Securities LLC to help it consider “a range of strategic alternatives” to build shareholder value. Overland Park-based Digital Ally (Nasdaq: DGLY) said in a Thursday release that a transaction is not a sure thing and that it hasn’t decided on any deals. Digital Ally won’t provide further details until its board approves a deal. In an interview Thursday, CFO Tom Heckman said the company’s dropping stock price has prompted a flurry of offers. The company turned down an offer of $6.50 a share last year, then received occasional inquiries until the past couple of months, when the volume significantly picked up and the board decided it had a duty to consider them, he said. All options are on the table, Heckman said, include buying, selling or privatizing. “We still have no debt and a lot of cash,” he said. “This is a good position to be in.”

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