This Tech Stock Ripped Following Merger Announcement
An Illinois-based tech firm found a tremendous amount of success on Wednesday after the company announced that they have entered into a merger agreement with Transom Capital group, LLC, an operationally focused middle-market private equity firm, pursuant to which an affiliate of Transom will acquire the company, according to a press release.
Following a trading halt pending this news, traders rushed to snatch up shares of SigmaTron International Inc. (Nasdaq:SGMA), pushing the micro cap to close the day up at $2.97/share (+130.23%).
Sigmatron International Inc is an independent provider of electronic manufacturing services (EMS). It provides printed circuit board assemblies and completely assembled electronic products. In addition, it also provides automatic and manual assembly and testing of products; material sourcing and procurement; manufacturing and test engineering support; warehousing and distribution services. The company primarily serves the industrial electronics, consumer electronics, and medical sciences industries. Geographically, it derives a majority of revenue from Mexico and also has a presence in China and Vietnam.
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