LONDON (Thomson Financial) - UTEK Corp said it has agreed to buy consulting
firm Strategos Inc through the issue of a maximum of 1.25 mln shares of the
company.
Under the agreement, Strategos shareholders will receive one-third of the
shares (416,320) upon closing the deal, with the remaining 832,640 shares to be
held in escrow and paid in two instalments 12 and 24 months after closing, it
added.
For the year ended Dec 31, 2007, Strategos reported a net loss of 375,000
usd on revenues of about 10.8 mln usd. It has assets worth 840,000 usd,
including 1.3 mln usd in cash.
TFN.newsdesk@thomson.com
jjo/ukn/jlw
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