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Article: Castelle to Acquire Ibex Technologies, Inc.
- Article from:
- Business Wire
- Article date:
- August 23, 1996
CopyrightCOPYRIGHT 1996 Business Wire. 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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SANTA CLARA, Calif.--(BUSINESS WIRE)--Aug. 23, 1996--Castelle (NASDAQ:CSTL), a leading supplier of internetwork fax- and print-server products, has signed a definitive agreement to purchase Ibex Technologies, Inc., the market leader in fax-on-demand systems.
Under the terms of the agreement, which is accounted for as a pooling of interests, Castelle will acquire all of the outstanding stock of the privately-held Ibex Technologies in exchange for approximately 850,000 shares of Castelle common stock. The closing sale price for Castelle common stock on NASDAQ on Aug. 22, 1996, was $7.00 per share. The transaction has been approved by the boards of directors of both ...