Key Developments: Ballantyne Strong Inc (BTN.A)

BTN.A on American Stock Exchange

23 Apr 2014
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Latest Key Developments (Source: Significant Developments)

Ballantyne Strong Inc Announces Completion Of Acquisition-Form 8-K
Thursday, 3 Oct 2013 09:02am EDT 

Ballantyne Strong Inc (Ballantyne) reported in its Form 8-K that On October 1, 2013, Ballantyne consummated the Acquisition of Convergent in accordance with the terms and conditions of the Purchase Agreement. At the closing of the Acquisition, Ballantyne paid Sony a total of $17.4 million, which was the purchase price for Convergent of $16 million as adjusted for CMS’s cash on hand in Canada and as further adjusted for a working capital variance based upon CMS’s targeted working capital. The purchase price is subject to further adjustment pursuant to a final working capital adjustment, which will be calculated within 90 days following the closing date. Settlement of the final working capital adjustment will occur within three days of the final working capital being agreed upon by both parties. Ballantyne financed the acquisition by using available cash on hand.  Full Article

Ballantyne Strong Inc Announces Acquisition of Convergent Media Systems
Tuesday, 1 Oct 2013 05:30am EDT 

Ballantyne Strong Inc announced the acquisition of Convergent Corporation and its wholly owned subsidiary, Convergent Media Systems. Convergent Corporation was a subsidiary of Sony Electronics Inc. The acquisition is an all-cash transaction valued at approximately $16 million.  Full Article

Ballantyne Strong Inc Secures New Digital Cinema Deployment Agreement from Caribbean Cinemas for 238 Projection Systems, Partnering With Barco and GDC
Friday, 9 Nov 2012 10:00am EST 

Ballantyne Strong Inc announced that it has won a contract to supply Caribbean Cinemas with 238 state-of-the art Barco digital projection systems, featuring cinema servers manufactured by GDC Technology Limited. Following the completion of the deployment, Ballantyne will also add the entire Caribbean Cinemas circuit, including its 437 screens in 53 theatres, onto its Network Operations Center (NOC) 24/7/365 proactive equipment monitoring service.  Full Article

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