Key Technology To Acquire Visys For Approx. $21 Mln - Quick Facts

(RTTNews.com) - Key Technology, Inc. ( KTEC ) Monday announced agreement to acquire privately-owned Visys NV for approximately $21 million.

Under the terms of agreement, shareholders of Visys will receive $13.0 million in cash, 600 thousand shares of Key Technology Common stock, and 250 thousand Key Technology warrants.

The deal is currently valued at approximately $21 million, and is scheduled to be completed on February 28.

The acquisition expands the company's presence in current and new markets while developing next-generation sorting technologies. The combination also

provides with an unprecedented mix of products, solutions and services.

Key and Visys will maintain headquarters in Walla Walla, Washington and Hasselt, Belgium, respectively.

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