Notable Mergers and Acquisitions of the Day 6/1: NETL, BITI/ETWC, EGOV
- NetLogic Microsystems, Inc. (NASDAQ: NETL) today announced that they have entered into a definitive agreement to merge.
RMI's portfolio of high-performance, low-power products includes the industry-leading families of XLP(TM), XLR(R) and XLS(R) Multi-Core, Multi-Threaded Processors for converged IP networks, which have been successfully designed into next-generation 3G/4G mobile wireless infrastructure systems, high-performance switches and routers, security appliances and storage appliances at Tier 1 OEMs worldwide. RMI's high-performance Multi-Core, Multi-Threaded Processors offer best-in-class "data-in-flight" performance and power profile that enable the delivery of rich IP content and services, such as video, 3G/4G mobile services, voice-over-IP and enhanced security, over tomorrow's wireline and wireless networks. The ever-increasing bandwidth and complexity of this traffic, coupled with the rapidly evolving technological requirements of these services, are expanding the market opportunities for RMI's high-performance Multi-Core, Multi-Threaded Processors.
In addition, RMI offers a family of Ultra Low-Power Processors for high-volume enterprise, industrial and media-rich applications, where their unique blend of low power core, media architecture, and connectivity has created a highly differentiated value proposition. The rapid proliferation and growing market for these power-sensitive connected devices are fueling the demand for higher performance, mission-critical infrastructure equipment in core, edge, metro, access, enterprise, storage and SMB networks. Click here for the full report.
- Bio-Imaging Technologies, Inc. (NASDAQ: BITI) announces that, in response to another unsolicited offer received by etrials Worldwide, Inc. (NASDAQ: ETWC) from an unrelated third party, etrials has informed Bio-Imaging that its board of directors has deemed the unsolicited offer a superior proposal, as defined in the merger agreement between the parties, and has entered into a merger agreement with such unrelated third party. In connection with the termination of the Bio-Imaging merger agreement, etrials is obligated to pay to Bio-Imaging a termination fee of $500,000 and reimburse Bio-Imaging for reasonable out of pocket expenses up to $250,000 on or before June 2, 2009.
Mark L. Weinstein, President and Chief Executive Officer of BioClinica said, "We have decided it would not be in the best interest of our shareholders to pursue this acquisition further. Although we are disappointed with the outcome, we will continue to actively look for other acquisitions that would add value and expand our eClinical services offering."
- NIC Inc. (NASDAQ: EGOV) has acquired an eGovernment contract in the state of Texas from BearingPoint, Inc., which includes the current TexasOnline portal management engagement through December 31, 2009.
NIC notes the contract acquired from BearingPoint, Inc. is separate from the active procurement for the rebid of the TexasOnline portal contract.
NIC had previously issued guidance regarding the financial results expected for full year 2009, which did not include any new portal contracts. As a result of the acquisition of the current TexasOnline portal management contract and Master Work Order, the Company believes that the previously-issued guidance is no longer operative and cautions investors to no longer rely upon such guidance. The Company intends to issue new guidance for 2009 after it determines the reasonably likely financial effects of the new contract.
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