Applied Cellular anticipating Feb. 28 closure of Burling Instruments Inc. acquisition.NIXA, Mo.--(BUSINESS WIRE)--Jan. 29, 1996--Applied Cellular Technology Inc. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ACTC ACTC Apple Certified Technical Coordinator ACTC Almaden Cycle Touring Club ACTC Associated Colleges of the Twin Cities ACTC All Ceylon Tamil Congress (Sri Lanka) ACTC Association Canadienne de Télévision par Câble ) today announced that it has finalized See finalization. an offer to acquire an 80% interest in Chatham, N.J.-based Burling Burling may refer to:
This page or section lists people with the surname Burling. If an internal link for a specific person referred you to this page, you may wish to add the given name(s) to that Instruments Inc. The acquisition agreement is subject to final approval and acceptable documentation review by both companies' boards of directors. Burling Instruments is a manufacturer and marketer of digital electronic thermostatic control thermostatic control a control system for the maintenance of a fixed temperature. devices for industrial, commercial and residential applications. Sales for calendar year 1995 are estimated at approximately $1.7 million. Terms of the offer were not disclosed, however, completion is expected on or about Feb. 28, 1996. Applied Cellular's chairman and chief executive officer, Richard J. Sullivan, stated: "This acquisition presents an exciting opportunity for our company to expand into new wireless communication applications for both commercial and residential markets. The broad use of Burling's temperature controls and the implementation of wireless communication technologies opens the door to many new applications that can respond to the click of a remote control unit. "Additionally, the synergistic combination of these two technologies for manufacturing and commercial applications is quite impressive, and represents a continuation of our company's strategy to enter into new high-growth markets which can utilize wireless communication technologies." Applied Cellular Technology Inc. is a diversified computer technology company, specializing in RF wireless communication applications, software programmer See systems programmer. development tools, commercial software products, and hardware upgrade components distribution. CONTACT: REOVEST Inc., Golden, Colo. Bob Oberndorf, 303/642-0073 |
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