MINNEAPOLIS, Jan. 10 -- APA Optics announced it has signed an exclusive nonbinding term sheet with Computer System Products Inc. (CSP), a privately held company, to purchase all of its stock for cash, APA common stock, common stock warrants and the assumption of certain liabilities.
CSP makes fiber optic assemblies, copper cable assemblies, value-added fiber optic frames, panels and modules for the data communication and telecommunication industries. APA Optics Inc. is a manufacturer of products for the fiber optic communications, optoelectronics and laser industries, including dense wavelength division multiplexers, ultraviolet detectors, nitride epitaxial layers and custom optics.
Anil Jain, Ph.D., APA's founder, president and CEO, said, "We are very pleased with the opportunity to acquire CSP Inc. due to our common interests in the fiber optic communications industry. The purchase will result in expanded product portfolio and customer base for our business activities."
The closing is expected to be completed within 60 days.
For more information, visit: www.apaoptics.com