Tuesday, August 21, 2007

Staktek Buys Southland Micro Systems

Austin, Texas-based Staktek Holdings said this morning that it has signed a definitive agreement to acquire Southland Micro Systems. The deal is worth $18M in cash, plus the assumption of $5M in debt. Staktek also said that the deal includes up to $7M in cash or shares of Staktek common stock based on financial growth goals. Southland is a provider of memory products and services, employs 80, and is based in Irvine, California.