CEO STEERS COMPANY TO SUCCESSFUL MERGER.Byline: Jason Z. Cohen cohen or kohen (Hebrew: “priest”) Jewish priest descended from Zadok (a descendant of Aaron), priest at the First Temple of Jerusalem. The biblical priesthood was hereditary and male. Staff Writer Douglas Hopkins just merged himself out of a job, but the chief executive of ViewTech Inc. isn't disappointed. In fact, he considers his achievement the successful completion of his mission. Hopkins, a principal in the management consulting Noun 1. management consulting - a service industry that provides advice to those in charge of running a business service industry - an industry that provides services rather than tangible objects firm of Nightingale nightingale, common name for a migratory Old World bird of the family Turdidae (thrush family), celebrated for its vocal powers. The common nightingale of England and Western Europe, Luscinia megarhynchos, is about 6 1-2 in. (16. & Associates, joined the company in October with the goal of turning around its management and finding an acquisitor ac·quis·i·tive adj. 1. Characterized by a strong desire to gain and possess. 2. Tending to acquire and retain ideas or information: an acquisitive mind. for the once-troubled teleconferencing provider. He found his match in All Communications Inc., a New Jersey-based firm that also provides teleconferencing services. The marriage announced Thursday will be achieved through a reverse merger. All Communications' management will run the new company, which will be formed when their company is taken into the corporate structure of ViewTech. ``We view these as a very complementary group of companies,'' Hopkins said. ``The operational and market strengths of the two companies intersect, but don't really overlap all that much.'' ViewTech focuses its efforts on the higher end Coordinates: For other places with the same name, see Billinge. Higher End or Billinge Higher End is a district of the Metropolitan Borough of Wigan, in Greater Manchester, England. of the market, while All Communications typically has limited itself to lower price points in the teleconferencing industry. The combined company, which will be headquartered in New Jersey, will take on a new name, Wire One Technologies Inc., and will trade on the Nasdaq National Market. ViewTech will issue 2.9 shares of new stock in exchange for each outstanding share of All Communications stock, for a per-share price of $6.4375. The combined entity will have a market capitalization Market Capitalization A measure of a public company's size. Market capitalization is the total dollar value of all outstanding shares. It's calculated by multiplying the number of shares times the current market price. This term is often referred to as market cap. of approximately $60 million, Hopkins said. Wire One will maintain offices and service operations in Camarillo, Hopkins said. Some of the 65 to 70 people employed there might lose their jobs, but he said he expects the new firm to grow quickly enough to create more positions rapidly. |
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