Optical component supplier Stratos Lightwave Inc [STLW] has completed the acquisition of Sterling Holding Company after shareholders approved the merger at the company’s AGM.
Stratos announced the definitive agreement to acquire Arizona-based Sterling, a privately held company that designs and manufactures RF and microwave interconnect products, during the summer
The deal has a face value of $5 million, and an additional contingent value of up to $6.25 million based on certain events and the future performance of Stratos’s share price.
Sterling shareholders received approximately 6.1 million shares of Stratos common stock and 50,000 shares of a Series B participating preferred stock.
Illinois-based Stratos develops, manufactures and sells optical subsystems and fiber-optic components for high data rate networking, data storage, military, harsh environment, television/broadcast and telecommunications markets, and applications.
This article was based on material originally published by ComputerWire.