SAN FRANCISCO, Dec. 29 -- BEI Technologies Inc. announced last week it has acquired OpticNet as a wholly owned subsidiary of the company.
OpticNet, based in Hayward, Calif., makes optical components used in communications equipment.
BEI and its acquisition subsidiary entered into a definitive merger agreement earlier this year to acquire OpticNet at a price equal to $0.04 per share of 5,367,235 outstanding shares of common stock. Each share not accepted for purchase in the offer was converted into the right to receive $0.04 in cash, without interest, in the merger.
BEI Technologies makes electronic sensors and engineered subsystems used in factory and process automation, telecommunications gear and a variety of transportation applications. The company's products, which include DC motors, optical encoders, servo systems and trackballs, help determine exact positions and link the actions of precision mechanisms, such as automotive stability-enhancement systems.
For more information, visit: www.bei-tech.com