DDi Agrees to Acquire Bankrupt Automata
Times Wire Services
DDi Corp. in Anaheim said Thursday that it has agreed to acquire the assets of printed circuit board maker Automata International Inc., which is in bankruptcy, for about $20 million in cash.
The court overseeing Automata’s Chapter 11 bankruptcy proceedings has approved the deal, which is expected to close this week.
DDi, which is acquiring the manufacturing facility, fixed assets and other assets of Automata, said the deal with allow it establish an immediate East Coast manufacturing presence, as well as to gain from Virginia-based Automata’s technological prowess.
DDi provides design, development and manufacturing services for the electronics industry. The stock closed Thursday at $23.50, down $2.88 a share, on Nasdaq.
