Post by
cobra571 on Sep 15, 2014 7:01pm
Synodon a takeover target? OR a stand-alone profitable comp
PUR (TSX) $8.50 +.30 Pure Technologies Acquires Oil and Gas Pipeline Inspection Services Business CALGARY, Sept. 12, 2014 /CNW/ - Pure Technologies Ltd. ("Pure" or the "Company") (TSX: PUR) announced today that it has entered into a definitive agreement to acquire the oil and gas pipeline inspection services business and related assets of Hunter McDonnell Pipeline Services, Inc. and its affiliated companies ("HM"), a leading provider of technology-driven integrity services to the oil and gas pipeline industry, for consideration of $8 million, consisting of $6 million in cash and $2 million in common shares of Pure, issuable in equal tranches on each of the first, second and third anniversaries of the closing date of the transaction. Closing of the transaction is expected to occur early in the third quarter of 2014. For the financial year ended March 31, 2014, HM generated revenue more than $10 million. ---- " Lots of business out there for Synodon and lots of room for growth"