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Key Technology Inc Completes Acquisition of Visys NV

Thursday, 28 Feb 2013 02:00pm EST 

Key Technology Inc announced that it has completed its previously announced acquisition of Belgium-based Visys NV, a supplier of digital sorters. Under the terms of the agreement, Visys became a wholly-owned subsidiary of Key Technology. Shareholders of privately-owned Visys received approximately $13.0 million in cash, 600,000 shares of Key Technology Common stock, and 250,000 Key Technology warrants. The total value of the deal was approximately $21 million. The transaction is expected to be accretive within the first twelve months. Key and Visys will maintain headquarters in Walla Walla, Washington and Hasselt, Belgium, respectively. The combined company has approximately 560 employees worldwide. 

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