Optelecom-NKF, Inc. Announces Completion Of Acquisition By TKH Group N.V.
GERMANTOWN, Md., Jan. 28, 2011 /PRNewswire/ -- Optelecom-NKF, Inc. (Nasdaq: OPTC, "Optelecom-NKF") announces the completion of its acquisition by TKH Group N.V. (NYSE Euronext Amsterdam, AMS: TWEKA, "TKH") on January 27, 2011.
Pursuant to the merger agreement by and among Optelecom-NKF, TKH and a subsidiary of TKH, Optelecom-NKF's stockholders are entitled to receive $2.45 in cash, without interest and less any applicable withholding taxes, for each share of Optelecom-NKF's common stock owned by them. As a result of the merger, Optelecom-NKF's common stock is no longer listed for trading on The Nasdaq Capital Market effective as of the close of business on January 27, 2011.
Alexander van der Lof, CEO of technology company TKH stated that Optelecom-NKF will contribute to TKH's ambitious growth path in security solutions. The specific market niches that Optelecom-NKF serves will benefit from the complementary portfolio and technologies within the TKH group. Through our combined sales forces we will be able to grow our market share in the world wide security solutions market.
According to Dave Patterson, president and CEO of Optelecom-NKF, in joining the TKH group, Optelecom-NKF becomes a member of a global organization of companies focused on providing innovative solutions to customers' needs. As a TKH group subsidiary, Optelecom-NKF will collaborate with other companies in the group to leverage competencies and capabilities to drive new business, while continuing to support existing customers with our products and services.Stockholders of record will receive a letter of transmittal and instructions on how to surrender their shares of Optelecom-NKF's common stock in exchange for the merger consideration. Stockholders of record should wait to receive the letter of transmittal before surrendering their shares. About Optelecom-NKF Optelecom-NKF is a global supplier of advanced video surveillance solutions. Its range includes IP cameras, video servers/codecs, network video recorders, fiber transmission equipment, video management software, and video analytics. It delivers complete solutions for traffic monitoring and security of airports, seaports, casinos, prisons, utilities, public transit, city centers, hospitals, and corporate campuses.
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