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Adept Technology to Acquire Chad Industries

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SAN JOSE, Calif., June 29 -- Adept Technology, Inc., a manufacturer of flexible automation for the telecommunications, fiber optic and semiconductor industries, announced that it has signed a definitive agreement to acquire privately held CHAD Industries Inc., located in Orange, California, in exchange for a combination of equity and cash to be paid out over three years. Completion of the acquisition remains subject to obtaining required approvals and other standard closing conditions. Adept reports that this latest strategic acquisition is expected to be immediately accretive to revenue and...Read full article

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    Published: June 2001
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