[Satellite Today 07-22-09] Sencore, a satellite content delivery specialist, has entered into a non-binding letter of intent to acquire Wegener, the company announced July 21.
    The acquisition, if completed, would result in a combined company.
    The letter of intent outlines the purchase price for Wegener’s common stock at $6 million, assuming that Wegener is free of all debt, taxes payable, accrued transaction expenses and any amounts due to related parties. The purchase price also assumes that Wegener appropriate amount of working capital, as of the closing date of the acquisition.
    Wegener also agreed to negotiate exclusively with Sencore for a period of 60 days, commencing on the date of the letter of intent and has to pay certain termination fees under certain circumstances.
    “Wegener’s employees, products and markets will be an excellent complement to Sencore’s content delivery business. Combined, we believe that the company will generate substantial synergies and efficiencies in product development, marketing, administration, manufacturing, sales and distribution while delivering superior technology solutions and support to our customers,” John Suranyi, CEO of Sencore, said in a statement.