Tech Stock Plummets After Merger Announcement Sends Shockwaves Through Canada
A technology company headquartered in Illinois experienced significant success on Wednesday following the announcement that they had reached a merger agreement with Transom Capital Group, LLC, an operational-focused mid-sized private equity firm. Under this deal, an affiliate of Transon Capital will be acquiring the company, as stated in a press release.
After halting trades due to this development, traders quickly moved to purchase shares of SigmaTron International Inc.
(Nasdaq:SGMA)
, driving the small-cap stock to finish the day up at $2.97 per share (+130.23%).
SigmaTron International Inc. operates as an autonomous supplier of electronic manufacturing services (EMS). They offer printed circuit board assemblies along with fully assembled electronic devices. Additionally, they provide automated and hand-assembled product testing, materials acquisition and supply chain management, production and testing engineering assistance, plus storage and logistics solutions. Their customer base mainly includes sectors such as industrial electronics, consumer electronics, and medical technology. Financially, most of their income originates from operations in Mexico, but they also have facilities in China and Vietnam.
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