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Article: VDYI and Nir-Or Postpone Proposed Acquisition.
- Article from:
- PR Newswire
- Article date:
- December 28, 2004
CopyrightCOPYRIGHT 2004 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Voice Diary, Inc. (BULLETIN BOARD: VDYI) announced today that it has agreed with Nir-Or Israel Ltd. ("Nir-Or"), an Israeli aerospace and defense company, to postpone the proposed acquisition of the business of Nir-Or by VDYI described in the non binding letter of intent dated September 2, 2004, between VDYI and Nir-Or. The parties may ultimately elect not to proceed with the acquisition.
"We agreed to postpone the closing of a definitive agreement because both parties felt that they should check other opportunities before undertaking the proposed transaction" said Arik Hinkis, President of VDYI.
The two companies will continue to discuss the proposed ...