Advance Circuits Agrees to Acquire Multaplex

Advance Circuits Inc. said it agreed to acquire Multaplex Corp. for $11.3 million in cash.

The company said that the sale is subject to the approval of Multa plex shareholders and that it expects to complete the transaction Sept. 3.

Advance Circuits said that, as part of the transaction, it will sell back to Multaplex Chairman Richard J. Borden Multaplex’s assembly division for $857,504 in cash.

Under terms of the sale, Advance Circuits said it will acquire 1.588 million shares of Multaplex stock from Borden for $4.56 a share. The remaining 812,000 shares, held by minority shareholders, will be acquired at $4 a share, Advance Circuits said.

Advance Circuits said it will begin operating two of the acquired facilities, located in Santa Clara, Calif., immediately.