If things go as planned, Wegener Corp. will be acquired by Sencore Inc.
The companies have signed a letter of intent regarding a potential acquisition, though it is non-binding.
“The acquisition, if completed, would result in a combined company with a best in class management team with tremendous industry knowledge in the content delivery market to offer expanded products for customers, operational efficiencies and converged technology,” they stated.
Under the planned deal, Sencore will acquire the outstanding shares of Wegener common stock for $6 million on a cash-free, debt-free basis. Wegener has made a binding commitment to negotiate exclusively with Sencore for a period of 60 days.
Sencore CEO John Suranyi and Wegener Chairman/CEO Robert Placek made the announcement.
Wegener products are used in media industries including radio to distribute video and audio content via satellite, fiber and IP networks. Sencore’s offerings include operational, signal monitoring and analysis, and video/audio distribution equipment.