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GSI Group Inc closes of Jadak acquisition

Monday, 17 Mar 2014 08:20am EDT 

GSI Group Inc:Closes its acquisition of JADAK LLC and JADAK Technologies Inc. (together, Jadak) for $93.5 million in cash.Jadak is now a wholly owned subsidiary of GSI.The total purchase price of $93.5 million was financed using a combination of cash on hand and the company's newly amended credit facility.In addition to the total purchase price, the company has granted restricted stock units (RSUs) in an aggregate of 180,000 shares to the four owner managers of the Jadak business. 

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11:51am EDT