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API Technologies Acquires Defense Electronics Manufacturing Services Firm

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API Technologies [ATNYD] yesterday said it has agreed to merge with the private equity firm Vintage Capital Management to acquire SenDEC Corp., a defense electronics manufacturing services firm. Under the deal terms, API will acquire all the equity of SenDEC, which includes its electronics manufacturing operations and $30 million in cash, in exchange for the issuance of 22 million shares of API's common stock to an affiliate of Vintage. API said it will use the $30 million to pay down…

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