Mcglen Micro Is Now One With Adrenalin Interactive

Mcglen Micro, an Irvine e-commerce company, said it has completed its merger with Adrenalin Interactive Inc. in Los Angeles to form a new company called Mcglen Internet Group, which will be based in Irvine. The deal involved a stock swap, valued at $131 million, that gave Adrenalin a 14% stake in the new company and gave Mcglen control of the company and a vehicle to become publicly traded. The merger and the notion of an e-commerce company on the market sent traders into a frenzy as nearly 6.7 million shares changed hands, swamping the daily average of 38,000. The stock, trading under Adrenalin’s ADRN ticker on Nasdaq’s small cap market, gained $1.31 a share to close Friday at $5.56 and had traded as high at $15 a share during the day. Robert Brown, the company’s executive vice president, said Mcglen Internet starts in an unusual way for an e-commerce company: It’s profitable.